May 19, 2017

IKEA Centres Russia’s portfolio grows through Middle Eastern retail and leisure franchise partners

IKEA Centres Russia’s portfolio grows through Middle Eastern retail and leisure franchise partners

Leading shopping centre developer and operator IKEA Centres Russia has revealed that over 100 stores have opened in Russia within its portfolio through Middle Eastern franchise partners and Turkish brands. Franchise groups such as Alshaya Group, Surya Group and Fiba Group have opened a total of 73 stores including Starbucks, Marks & Spencer, MAC, and Jo Malone. This Middle Eastern and Russian retail partnership has been facilitated by the similarities in business environment, buying patterns, and trade.

Of the 73 stores, 53 have opened through Alshaya Group, 18 through Fiba Group and two through Surya Group. There are 30 Turkish brands which currently have a store in a MEGA shopping centre across Russia. These include home grown Turkish fashion brand DeFacto, which opened the first Russian store in a MEGA centre. Finally, The Noodle House, the Asian cuisine UAE restaurant chain, has opened two eateries in Moscow including one in MEGA Khimki.

Svetlana Burzyantseva - IKEA Centres Russia’s Head of Leasing, commented, “We have been fuelling enquiries from franchise partners looking to establish themselves within the Russian retail and leisure sector. Launching a brand within Russia is a stepping stone into entering and establishing themselves well within a promising market for retailers. It is our hope that we can continue this strong relationship, and facilitate these franchises within our MEGA shopping centres going forward.”

IKEA Centres Russia is showing a constant growth that strengthens its position as a leader in the country with the largest chain of shopping centres in Russia (2 million sqm). IKEA Centres Russia is present in 11 regions throughout the country with 14 MEGA shopping centres. Since last year, the company has extended its tenant mix with 90 new brands across 100 stores representing a total of 33,700 sqm. Some of the latest brand additions include: Armani Exchange, Custo Barcelona, Helly Hansen, Hunkemoller, Kiko Milano, Lindt, Movenpick, Nyx. The majority of the international retailers are operating under franchising agreements.

Currently, IKEA Centres Russia is undergoing a EUR 2 billion investment programme, designed to deliver innovative and experiential meeting places alongside world-class retail. The new meeting places will bring commercial upgrades to food court areas, shopping galleries and leisure zones. IKEA Centres Russia is taking MEGA beyond a pure shopping experience and transforming it into a Meeting Place for the many.

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