Feb 17, 2017 | By WGSN Insider
Big data meets consumer insights. Experience WGSN.
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.