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Highlights

22 Jun

Expansion

Cortefiel and Pedro del Hierro open new stores in Russia

Cortefiel and Pedro del Hierro open new stores in Russia

Cortefiel and Pedro del Hierro are launching two new points of sale, both of which are 150 square meters, inside a TSUM shopping center. This is one of the primary malls in Voronezh, and it acts as an important cultural, scientific, industrial, and administrative center in Russia.

This marks the premier of Pedro del Hierro in Russia, whose commercial space is located next to the new Cortefiel store. These two points of sale help reaffirm the presence of Grupo Cortefiel in the country and continue with the company’s pattern of international expansion.

The Russian market is the third most important for the multinational Spanish textile company, which boasts over 80 stores in Russia to date. The Women’secret brand has the largest presence, followed by Springfield and then Cortefiel. This expansion occurs in a market with a large growth potential.

For the Spanish business, Russia presents itself as a country with great potential to develop all its brands. It constitutes an excellent geographical area integrated by markets with heavy influence, a fully-developed middle class[u2] , and a notable increase in the demand for designer and quality products. The presence of Grupo Cortefiel has strengthened in Russia since 2013, when it purchased a local franchise[u3] .

The start of the first Pedro del Hierro establishment in Russia and the new Cortefiel establishment has transpired weeks before launching new stores in India, which will open in July, and about a year after launching Women’secret in Havana, Cuba last May.