Finn Flare to slow new store openings in 2012

2012-01-31



Finnish retailer Ruveta OY, operating the clothing chains Finn Flare and AppleMoon in Russia, is to launch 15 company owned and over 25 franchise stores in Russia, Kazakhstan and Ukraine in 2012. In 2011 the company opened 35 new outlets instead of 23 planned stores, 12 of them started operation in Moscow, four in St. Petersburg, two in Kiev, two in Kazakhstan, and the rest were in different Russian regions. In addition, franchisees opened 24 more outlets, including 21 Finn Flare and three AppleMoon stores.
At the beginning of 2012 Ruveta OY operated over 100 outlets in Moscow and other Russian regions, as well as six shops in Kazakhstan. The franchise store count encompasses 270 outlets in Russian and 13 in Kazakhstan.