Victoria's Secret to open its first Russian store

15 Sep '11

1 min read

Victoria's Secret, an American retailer of women's wear and lingerie, plans to open its first Russian store in Moscow on September 30. This will be followed by opening of three more outlets from October through December 2011 in Moscow.

Moneks Trading, which already operates stores for several brands including Next, Claire's, Mothercare, and The Body Shop, is developing the four outlets.

Success of the brand in Russia is a foregone conclusion as Victoria's Secret is already well-known in the country and people purchase its products when they go abroad.

In Russia, the lingerie sales are increasing at an annual rate of 10-12 percent, against the present 2-3 percent growth in the European markets and 3.5 percent in the US.

At the end of 2010, Victoria's Secret operated 1028 stores, generating a net sale of US$ 5.9 billion and operating profit of US$ 877 million.

For brand promotion, the firm relies on supermodels, dubbed 'Victoria's Secret Angels', who included Naomi Campbell, Heidi Klum, and Claudia Schiffer in the past.

Fibre2fashion News Desk - India

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