H&M launches more stores in Yekaterinburg

Technosila, the third largest company on the Russian electronic goods and household appliances market (and the fourth largest in terms of sales volume), might get new owners. MDM Bank and entrepreneur Mikhail Kokorich are looking for a customer to buy the business that has been estimated at $200m, Vedomosti reports. According to some reports, the selling offer has already been made to the country’s top three market players: Eldorado, M.Video, and Media Markt; however, experts believe selling the entire chain in one piece won’t be easy. The market leaders are more likely to be interested only

Х5 Retail Group is not planning to sell its Karusel supermarket chain to Wal-Mart, Interfax reports. The company’s analysts sent out a letter that states the retailer is not negotiating for the sale of the chain. In fact, the company’s CEO Andrei Gusev also informed Interfax earlier that the X5 had no intention of selling Karusel and was actually planning on developing the chain further in order to make the business even more efficient. The Group runs three Karusel stores in Yekaterinburg: in Park House, ComsoMALL, and Alatyr shopping malls.

The household appliances and electronic goods store Technosila closed down its outlet in Fan Fan Shopping Mall in Yekaterinburg. The store has already been replaced by another chain, Eldorado. This means Technosila now operates only two stores in Yekaterinburg, that is, in Greenwich and Park House malls. In fact, the outlet in Park House might soon stop operating as well. Manhattan Real Estate Management’s Yekaterinburg branch informed UrBC that yet another electronic goods chain, Media Markt, is about to open on the third floor of the mall. The German hypermarket is expected to use the area

Under the existing tenant agreements, H&M is supposed to open its outlets in MEGA Ufa and MEGA Samara in the second quarter of 2012, while outlets in MEGA Parnas, MEGA Yekaterinburg, and MEGA Nizhniy Novgorod will be opened in the third quarter of the year. This means the Swedish brand’s stores will be found in eight MEGA malls in a number of Russian regions. As for Yekaterinburg, H&M stores already operate in Greenwich and ComsoMall shopping malls.

Technosila, Russia’s third largest electronic goods and white goods chain store, placed an application regarding the insolvency of OOO SV Group with the court. According to Kommersant, SV Group is the flagship enterprise of both Technosila and a number of other businesses owned by brothers Vyacheslav and Viktor Zaitsev. OOO Technosila is undergoing bankruptcy proceedings at the same time. The company’s debts total to 8.8 billion RUR, with its asset value reaching about 7.9 billion RUR. In fact, Technosila currently operates three hypermarkets in Yekaterinburg, namely, in Greenwich, Fan Fan,