Obuv Rossii plans IPO
The Russia-based footwear retail group Obuv Rossii has announced an initial public offering (IPO) of its ordinary shares. As a result, 60% of the company’s shares should be available on the Moscow Stock Exchange
Obuv Rossii, established in 2003 with head office in Novosibirsk, develops its own manufacture of footwear and components, and owns a network of retail stores.
The footwear production of the group is mainly based in Novosibirsk and Berdsk, in the Novosibirsk Region. Currently, their production facility area exceeds 6 000 square meters. Obuv Rossii is one of the largest footwear retailers in Russia with five core retail brands, Westfalika, Rossita, Emilia Estra and Lisette, and an offer of a wide range of footwear as well as related products.
According to the company their portfolio of products includes, besides footwear, a wide range of related products - more than 4 500 different items. Sales of non-footwear products (including clothes) made up 27.3% of total company revenue for 2016.
With the new IPO now announced the company expects to work on a strategy to double its retail network and to reinforce the development of in-house product design and production, as the group currently supports much of its business with sourcing in other countries.
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