Login

Tesco suspends Russian F&F launch

FandF

Tesco has suspended plans to open F&F clothing stores in Russia.

The company’s franchisee in the country Debruss said in March it planned to open two F&F outlets in June and another in August in Moscow shopping malls.

None of the stores have opened and Debruss has said it is “not currently working with F&F”, declining to comment further.

A source told Reuters Tesco was put off by the political risks of investing in a country subject to Western sanctions over the Ukraine crisis as well as a drop in consumer spending following a slide in the rouble currency.

A Moscow shopping mall, Afimall, was reportedly terminating its contract with a company representing F&F in Russia because a store was scheduled to open there had not done so.

A retail market source said: “F&F has decided not to develop in Russia for now. Demand in the apparel retail sector is very weak.”

STAY UP TO DATE: You want the need-to-know news, right? Our journalists deliver a daily curation of the most important industry happenings. Sound good? Join WGSN.

Know what’s next. Become a WGSN member today to benefit from our daily trend intelligence, retail analytics, consumer insights and bespoke consultancy services.

WGSN Insider Bulletin

Big data meets consumer insights. Experience WGSN.

Related Stories

French Connection sales for spring are positive

Confident French Connection enjoys strong spring offer feedback

Soda (The School of the Digital Age) uncovers the fun in tech

Reserved fashion- Kate Moss fronts campaign

Can Reserved make its mark in the UK?

Share
Tweet
+1
Share
Pin