Friday, 28 November 2014
IKEA Shopping Centres Russia has seen significant activity in 2014 and plans future development (RU)
IKEA Shopping Centres Russia has seen significant activity at its 14 MEGA branded malls located across Russia in 2014, as international retailers continue to seek growth in the country. Since the beginning of this year, several international brands have entered Russia for the first time via IKEA Shopping Centres Russia’s MEGA malls.
In addition, a further 56 western brands already operating in Russia have taken new space at MEGA malls, or have extended their existing leases, which equals a total of 25.000 m².
International brands that have launched in Russia for the first time this year through MEGA shopping centers, include Violeta by Mango already present in five MEGA malls, Lefties the fashion brand owned by Inditex, opened in three IKEA Shopping Centres Russia malls in August, Penti, the leading Turkish fashion retailer launched in MEGA in July. US fashion retailer Forever 21 will open a flagship store in a Moscow MEGA mall in the coming months.
IKEA Shopping Centres Russia is investing €260 million to build MEGA Mytischi. The 215,000 m² mall is scheduled to open in 2018, and it is estimated that it will attract 25 – 30 million visitors per year, with 4.2 million people in its surrounding catchment area. The new mall is set to host a wide range of western retailers seeking a ‘safe entry platform’ into Russia.
MEGA Mytischi’s development is part of a wider investment programme being undertaken by IKEA Shopping Centres Russia. This includes a major upgrade programme at its existing shopping centres with new food and beverage concepts and mall extensions, but it also includes plans for further new regional MEGA malls.
Armin Michaely, the general director of IKEA Shopping Centres Russia, commented: “We continue to benefit from offering western brands a familiar environment, where many of the legal and cultural barriers to entry have already been safely negotiated. Retailers appreciate that we are a respected multinational company with retail experience. Our significant investment plans also demonstrate our ambitions in Russia. MEGA Mytischi is a very exciting project, and the super-regional mall will set a benchmark for modern retailing in Russia,” Mr Michaely continued.