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three pilot stores opened in Stupino, Elektrostal and Tuchkovo near Moscow. In the near future, up to 15 test stores will open in the Moscow region. The area of shops will be 330-400 sq. m. m, and in case of further deployment of the project, the retailer will open a distribution center for new discounters in the fourth quarter of this year. Discounters will have a smaller assortment compared to the "soft" discounters "My Price" (owned by "Magnit").
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Danish beer brewing giant Carlsberg plans to sign a deal to sell its Russia’s largest brewery plant Baltika until the middle of 2023, the company said on February 7. Carlsberg also said that its revenue in Russia grew by 56% on the year to 10.207bn Danish kroner, or $1.5bn, even though the sales fell by 2.6% in the physical terms. A spokesperson for Baltika, who has been a part of Carlsberg Group, told PRIME that the company would continue operating as usual until the deal is closed.
Japanese apparel manufacturer and retailer Uniqlo, which suspended operations in Russia in spring 2022, may have decided not to resume operations in the country, Kommersant daily reported citing unnamed real estate market sources. Reportedly, Uniqlo has terminated leases at some of its shopping malls and could take several months to wind down the entire business. Analysts surveyed by Kommersant remind that in terms of turnover per square metre of leased space, Uniqlo has been one of the most successful fashion retailers in its segment in the country. In March 2022 Uniqlo operated 50 retail points in Russia and its own online shop. Uniqlo has 27 shops in Russia that remain closed at the end of January 2023, according to data on the Fast Retailing website. In 2021, Uniqlo's Russian revenues rose 55.2% to RUB27bn, with net profit of RUB4bn.
Mothercare's former children's goods and clothing chain in Russia has rebranded as "Motherbear," according to a report by PRIME on February 16. The rebranding comes after Mothercare's decision to suspend its operations in Russia in March 2022.
The Federal Antimonopoly Service approved the acquisition of Mothercare's Russian franchisee Moneks Trading by Jamilco, a distributor of popular brands such as New Balance, DKNY, and others, in December of last year. This acquisition paved the way for the rebranding of the popular children's goods and clothing store.
The decision to rebrand as Motherbear comes as the store's new owners seek to establish a new identity in the Russian market. With a fresh brand and new ownership, Motherbear will have the opportunity to redefine its offerings to meet the evolving needs of its customers.
Mothercare's decision to suspend operations in Russia was a surprise to many, especially as the company had been a well-known and trusted name in
162 RUSSIA Country Report March 2023 www.intellinews.com