Footwear producer and retailer Obuv Rossii is to open more than 20 shoe stores in different Russian regions, as well as expand into new regions – the Republics of Bashkortostan and Mordovia. Most of the new stores are to operate in large shopping centres under the name of Vestfalika. The cost of one opening is estimated at some RUB 10-12m ($303,560-364,270).
Today, the Obuv Rossii chain consists of 230 outlets in over 70 Russian cities and towns, Retail.ru reported. In H1 2013, Obuv Rossii recorded a net profit of RUB 203m ($6.16m), a 160% year-on-year increase, while its sales revenues rose by 87% to RUB 1.95bn ($59.19m).