Latvian Stenders to open 50 new stores in Russia by 2015
2011-10-03
The Latvian cosmetics retailer
Stenders is to open 50 new stores by 2015 in Russia, most of them on a franchise basis. Fifteen units will appear in Moscow. Up to five company operated stores will be appearing only in Moscow and St. Petersburg after 2013. Other regions of the primary influx are Yekaterinburg, Kazan and Nizhny Novgorod.
Stenders has been operating in Russia since 2009 and currently holds a store count of approximately 70 Russian outlets. The only company-owned store operates in St. Petersburg. One Stenders outlet takes up 20-25 m
2. One opening requires RUB 1.5m ($47,200).