PJSC MELON FASHION GROUP HAS SUMMED UP ITS 2014 RESULTS
PJSC Melon Fashion Group (MFG) has summed up the preliminary results of its work in 2014. The turnover of the Group has grown 25% compared to the previous year, amounting to RUB 11.2 billion.
The growth of the turnover has been affected by opening of the new Group’s own stores. 2014 net openings amount to 83 new stores - ZARINA has increase by 20 stores, befree by 35 stores, LOVE REPUBLIC by 28 stores.
Thus, as of 31 December 2014, MFG was operating 672 stores: 638 in Russia (befree – 250, ZARINA – 217, LOVE REPUBLIC – 171), 21 stores in Ukraine (befree – 6, LOVE REPUBLIC – 15), 10 stores in Kazakhstan (befree – 6, LOVE REPUBLIC – 4), 2 in Belarus (befree), 1in Armenia (LOVE REPUBLIC).
The Group’s management sees prospects o increasing efficiency not only due to new openings, but primarily due to organic growth of the existing stores.
«We are not discarding retail expansion plans, but we don’t regard increase in number of stores as a goal in itself. We are thinking, firsthand, about the Group’s efficiency,” comments Kestutis Sasnauskas, the MFG CEO.
In 2015, MFG pursues its expansion plans, while raise of efficiency becomes Task No 1 on the priority list of the Group. In this respect, MFG intends to focus on improvement of performance in all of its retail chains, higher level of service and development of new concepts of the store interior design in order to make presentation of the product offer better.
«The market has adjusted our expansion plans in 2014, so in 2015, we will be even more selective choosing new locations for our stores, our preference will lie with the projects the profitability of which will be known full well in advance, Mr. Sasnauskas notes We’ll be able to make our 2015 development plans public very soon».
The PJSC Melon Fashion Group operates three fashion brands: befree, ZARINA and LOVE REPUBLIC. The Company runs full cycle of the fashion business from design through production and buying to distribution, sales and marketing of women’s and men’s clothing, shoes and accessories.