Baring Vostok buys shares in Russian fashion brand 12 Storeez

14 Jul 21 1 min read

Baring Vostok, an investment firm having shares in the Russian low-priced Familia chain, has purchased a 12 per cent stake in the women’s clothing brand 12 Storeez, whose co-founder Marina Golomazdina—who earlier owned 31 per cent of the firm—reportedly agreed to sell the stake to a new investor. The remaining shares belong to co-founders Ivan and Irina Khokhlov.

The brand is expected to expand into the European market in the future, according to European fashion media reports.
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Founded in Yekaterinburg in 2014, 12 Storeez now has 35 stores and sells a limited number of carefully selected items every month, focusing on simple and elegant designs. The company’s revenue increased last year by 36 per cent to 3 billion rubles ($ 40.3 million).

Fibre2Fashion News Desk (DS)

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