Mickey Mouse headed to Moscow

By bne IntelliNews October 23, 2013

bne -

The growing list of foreign retailers setting out their stall in Russia will get a colourful addition next year, with US entertainment giant Walt Disney planning to open three themed stores in Moscow and St Petersburg.

The merchandising arm of the Walt Disney Company is set to launch toy and garment retail networks in Russia, business daily Kommersant reported on October 23. The company is currently looking at small-sized shop space on the order of 300-500 square meters located in the malls in Russia's twin capitals. Specifically it has been checking out space in the Mega brand hypermarkets in Moscow, which are already home to IKEA as well as several French and German retailers, and the giant Galeria shopping center in St Petersburg.

The company will spend an estimated $2.7m just on the retail space, DNA Realty told the newspaper. Walt Disney has also opened a tender for a local partner to operate two retail chain formats: Disney Play and Disney Style, which sell toys and garments respectively. Overall, the company hopes to eventually open 100 stores.

Last year Russia overtook Germany to become the largest toy market in Europe, worth an estimated RUB662bn ($21.3bn) at the end of 2012 and continues to grow in double digits. Despite all the negative press on Russia's "demographic problem." birth rates have been recovering on the back of steadily rising incomes.

Notice: Undefined index: social in /var/www/html/application/views/scripts/index/article.phtml on line 259

Related Articles

Drum rolls in the great disappearing act of Russia's banks

Jason Corcoran in Moscow - Russian banks are disappearing at the fastest rate ever as the country's deepening recession makes it easier for the central bank to expose money laundering, dodgy lending ... more

Kremlin: No evidence in Olympic doping allegations against Russia

bne IntelliNews - The Kremlin supported by national sports authorities has brushed aside "groundless" allegations of a mass doping scam involving Russian athletes after the World Anti-Doping Agency ... more

PROFILE: Day of reckoning comes for eccentric owner of Russian bank Uralsib

Jason Corcoran in Moscow - Revelations and mysticism may have been the stock-in-trade of Nikolai Tsvetkov’s management style, but ultimately they didn’t help him to hold on to his ... more