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the country's retail sector. However, the new owners of the rebranded Motherbear are optimistic about the future of the store in Russia and believe that it has the potential to thrive under new management.
It remains to be seen how the rebranding of Mothercare's former Russian chain to Motherbear will be received by consumers in Russia. However, the move is a clear indication of the new owners' commitment to establishing a strong presence in the Russian market.
The rebranding of Mothercare's former Russian chain to Motherbear is a sign of the changing times in Russia's retail sector. As the country's consumer landscape continues to evolve, it will be interesting to see how other retailers adapt to meet the needs of their customers. For now, all eyes are on Motherbear as it embarks on this exciting new chapter in its history.
A government commission has approved the sale of Swedish furniture maker IKEA's three plants in Russia to two Russian buyers, according to a government official quoted in the daily newspaper Izvestia on February 16.
The Deputy Trade and Commerce Minister, Viktor Yevtukhov, stated that kitchen worktop manufacturer Slotex and lumber producer Luzales would be acquiring the plants.
The factories, which are located in the Leningrad, Tver, and Novgorod regions, will continue to operate, and their production will be sold by Russian retail outlets. As per Izvestia, the Russian and Swedish companies will work out the terms of the sale, which has been under negotiation for almost a year since Russia sent troops into Ukraine. No further details were provided.
The sale of the plants will enable the Russian buyers to acquire the expertise and technologies that IKEA has developed over the years. It also provides IKEA with an opportunity to focus on its core business and operations in Russia, which includes the opening of new stores and expanding its e- commerce business.
Russian branch of French retailer Auchan supplies aid to Russian troops. An investigation reveals that the Russian branch of French retailer Auchan has been supplying Russian forces with supplies under the guise of humanitarian aid. Under international law, humanitarian aid can only be supplied to civilians. However, the supplies coordinated by Auchan in Russia included men's socks, cigarettes, lighters, and razors.
Tobacco producer Philip Morris is unable to sell the Russian business because the terms are unfavorable for the shareholders, CEO Jacek Olczak told the Financial Times in an interview released on February 23. He said that the company discussed the deal with at least three large firms, but the negotiations went stall. The executive also said that the company would rather leave the business than sell it at bad terms.
163 RUSSIA Country Report March 2023 www.intellinews.com