Russian Obuv Rossii’s autarchic footwear is doing fine, as production and sales speed up and increase by 11% in 9 months

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Obuv Rossii keeps expanding their business. In fact, the sales of the Russian footwear group (which actively plays in the industry, from production to consumer, while being the leading manufacturer in the domestic market) recorded an increase by 11% in the first nine months of the year compared to 2017 same period. Such percentage implies, in other words, that the group’s turnover nearly reached 120 million dollars: revenues are coming from a network of 677 stores, 544 of which are being run directly. The company aims to further expand the number of their shops. “We shall keep developing our supply chain and we expect to open 150 new stores by the end of the year”, pointed out managing director Anton Titov. He also cleared up, while talking about the financial statement figures, that “the company will also strive hard to further develop their own additional services, alongside omnichannel sales, which will enable the group to expand the number of their traditional clients and augment sales shares”. In the second quarter of the year the company’s revenues went up by 23%: gross profits increased by 24% on annual basis, while net incomes rose by 14%.

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