Mercury Group to expand outside Moscow
Russian luxury retailer and realtor Mercury Group which owns and operates Tsum Department Store and Barvikha Village in Moscow is reported to seek expansion outside Moscow in major cities such as Krasnodar and Ufa. Mercury’s new strategic development plan comes after the company has gradually lost exclusive distribution and franchising rights for several major international luxury brands, which have decided to operate directly.
With the exception of Moscow and Sankt Petersburg, most other major cities such as Yekaterinburg have developed separate luxury markets, with distinct local operators and retailers in all luxury sectors, especially fashion, accessories, jewellery, watches, cars and travel.
CPP Luxury Industry Management Consultants Ltd has been actively covering Kazan (Republic of Tatarstan, Russia) and Nizhniy Novgorod (Russia).