French luxury fashion house Isabel Marant will enter the Russian market with the opening of its first mono-brand store in Moscow.
The brand will act as a tenant of the Crocus City Mall shopping center in the north-west of the Russian capital. A store with an area of 160 square meters will open on the first floor of the complex. The monotsore will present a collection of clothes, shoes and accessories of the French brand, as well as a democratic line Isabel Marant Etoile. Rental rates in Crocus are estimated at 80-120 thousand rubles per 1 sq.m per year. Thus, the annual rent can cost up to 19 million rubles for the French brand.
According to Emin Agalarov, vice-president of the Crocus group (owns the Crocus City Mall shopping center), if successful with the opening of the first store, the French fashion house will launch two or three more outlets in the Moscow region. “During the first season, we will have an understanding of whether it is worth opening new sites,” Agalarov commented, noting that the company is considering various formats, including corners and shop-in-shop. “Normal”, according to the businessman, will be considered the revenue of the store in Crocus in the amount of 142 million rubles a year.
Fashion house Isabel Marant has been producing luxury and premium clothing since 1994. As of 2019, the company manages 37 stores located in Europe, as well as in the USA and China. The average check in Isabel Marant stores is about 60,000 rubles. In Russia, the brand is represented in the Central Department Store on Petrovka, as well as in Bosco di Ciliegi and Aizel stores. According to Fashion Consulting Group, in 2018, sales of luxury brands in Russia increased by 5%, to 248 billion rubles.