CBRE will introduce new Austrian decorative interior lighting brand to the Russian retail market – EuropaProperty

EGLO, an Austrian family enterprise with Tyrolean roots, the leading manufacturer of decorative interior lighting, will open five stores in Russia in three years. CBRE will represent this tenant in lease of retail premises.

The first EGLO store is to be opened in Moscow by the end of 2016. The average size of EGLO shops is about 350 sqm. Investments into one store are about 50 million roubles. So far this brand has been represented in Russia in DIY stores, like OBI and Leroy Merlin, as well as in the traditional retail locations. The average cheque in EGLO stores is about 11,000 roubles.

Marina Malakhatko, Director, Moscow Retail Department CBRE in Russia, said: “It’s such an honour for us to represent this well-known European brand in the Russian market. It is the right time for the brands which are represented in multi band stores to enter the market as mono brands, because landlords of shopping centres demonstrate flexibility towards tenants, and are ready to fix good commercial terms in roubles. Also, most of them are ready to partially compensate fit-out costs.”