Adidas to close down one-third of stores

‘Now that we’ve analyzed the current retail market we can see how much it has shrunk lately. At the moment, only a quarter of last year’s dynamically developing players are still there, and the market has been stagnating for the last six months, with only small signs of recovery lately,’ Director of Art Properties Natalya Oreshina announced at a press conference coordinated by Commercial Real Estate magazine in Yekaterinburg.

‘Most companies understand that if they fail to develop now they will lose two to four years later on. However, they take daunting action. Adidas, for instance, is planning to close down at least a third of its seven hundred Russian stores,’ she added.

As for Yekaterinburg, Adidas currently runs seven stores in the city.

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