Finnish retail chain is still in the capital. Stockmann addresses in Moscow

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

The famous Stockmann chain intends to close several of its stores in the capital and within a year plans to completely remove the Lindex brand from the Russian market. It is too early to say which Stockmann addresses in Moscow will remain and which will disappear. Guessing the main reason for leaving is not difficult: the rapid fall and subsequent instability of the Russian ruble.

Finnish merchants

One of the first companies that came to the Soviet Union back in the eighties, the Finnish company "Stockmann" quickly gained popularity in the Russian market. Despite the fact that the company has points in more than a dozen countries of the world, most of the assets are located in Russia. During its existence, the Finnish company has opened Stockmann department stores and stores (Moscow, St. Petersburg, Yekaterinburg) and a network of Seppala and Lindeks branded points of sale in the largest cities of the country.

Losses due to crisis

As representatives of the Finnish company explained, the sharp depreciation of the ruble led to a significant decrease in total profit for the reporting period. Since 2014, sales have been declining by approximately 10% per year, resulting in a losscompanies for the current year in more than 60 million euros. The drop in sales was observed not only in Russia, but also in Finland, however, the most pronounced losses are attributed to Russian branches.

The main profit of the company (which is more than half of all revenue) comes from large department stores. As for branded stores, it should be noted that the demand for goods in Lindex stores at the beginning of the year increased in all countries, again with the exception of Russia and the B altics.

After publishing sales results and annual reports, Stockmann launched an anti-crisis program, as a result of which it was supposed to reduce losses by at least 50 million euros per year. According to plans, not only Russian retail facilities, but also some stores in Finland fell under the reduction.

The reason why Stockmann addresses in Moscow began to disappear from the map, analysts see the following. First of all, the main Russian visitor to Finnish shopping centers belongs to the middle class. It was these people whose purchasing power fell due to the crisis, and consumers rushed from expensive and moderately expensive pavilions to cheaper discounters. As you know, in a crisis, setting the goal of providing goods to the premium sector of buyers is not a winning strategy.

Stockmann's current addresses in Moscow

One way or another, getting a company out of a difficult financial situation is not an easy task. Bringing anti-crisis measures into action will take sometime, and it is still possible to visit Finnish outlets in Moscow. Two shopping centers with Stockmann stores are located on Leningradskoye Highway, these are Mega Khimki (at 23 km) and Metropolis (at 16a/4). One - on Mira Avenue, house 211 - "Golden Babylon Rostokino". Moving along the Moscow Ring Road, at the 41st kilometer you can visit the Mega Teply Stan shopping center. And, finally, in the city of Kotelniki, at the address 1st Pokrovsky proezd, house 5, the Mega Belaya Dacha complex is located.

Addresses of "Stockmann" (Moscow) will soon decrease from 5 to 2. It is reliably known about the closure of department stores in all Mega shopping centers, but the timing of the closure is still not known. Reviva Holdings, represented on the Russian market by the Debruss department store chain, will become the new owner of the retail facilities.

When planning a trip to a shopping center, it is worth clarifying the relevance of one or another Stockmann address in Moscow, since the Finnish company's exit from the Russian market is already a foregone conclusion.