Page 162 - RusRPTJan23

VSMPO-Avisma provides about 30% of global titanium supply for the airspace industry and covers up to 60% of Airbus' demand.
9.2.5 Retail corporate news
• X5
X5 Group, a leading Russian food retailer, expects at least a 20% increase in annual revenues in the near future, CEO of the Group Igor Shekhterman said at the X5 Dialog 2022 conference. "We are targeting the leadership both as regards growth rates and revenues in offline and online. We intend to achieve a growth rate of at least 20% annually in the years to come," the top manager said.
• Other
H&M has closed all its retail locations in Russia, the Sweden-based apparel and accessories retailer’s press service told TASS. H&M, Europe’s largest clothing and accessories retail chain, which has been operating in Russia since 2009, previously announced its decision to gradually phase out its operations in the country. The company decided to leave stores open for some time to sell any remaining merchandise and stores were to be gradually closed later as stocks depleted. The flagship store in downtown Moscow was closed on November 30. There were 146 H&M stores in Russia, the company’s press service said earlier.
Net profit of Beluga Group under International Financial Reporting Standards (IFRS) soared by 87.5% in January-September 2022 y/y to 5.2bn rubles ($83.5mn), the company reported on Monday. Revenue rose by 32.2% in the reporting period to 66.3bn rubles ($1bn). EBITDA climbed by 71% to 12bn rubles ($193mn).
Russian ice cream producer BRPI, working under the Baskin Robbins brand, is registering new brand BRandICE, probably, due to a loss of rights for the current brand, business daily Kommersant reported on December 2, citing documents of the national patent service. "In November, BRPI also received declarations of conformity to produce ice cream under the brand BRandICE... Registration of new trademarks may be connected to the loss of the right to use the Baskin Robbins brand," the documents read. A manager at a Baskin Robbins cafe in the Moscow Region told the daily that the outlet had to change its logo on Thursday. US Inspire Brands, the owner of Baskin Robbins brand, did not provide comment.
The trading company Jamilko applied for the registration of the Motherbear brand after the decision to acquire the Mothercare chain of
162 RUSSIA Country Report January 2023 www.intellinews.com