In June, the joint stock company Melon Fashion Group, which manages the brands befree, ZARINA and LOVE REPUBLIC, published a report for 2016.

According to the report, the company's net profit in 2016 amounted to 131.2 million rubles, which is almost twice as low as in 2015 (272.5 million rubles).

Among the main results of the year, the company indicates a reduction in production time and an increase in the deferred payment period to 150 days after shipment. Also, in 2016, currency risks were reduced by increasing the share of ruble contracts to 32%. An additional assortment was developed and released for large format stores.

The area of the renovated stores was 14,114 sq. m. The change in the concept had a direct impact on profitability. On average, the profit in the renovated stores increased by 123%.

According to the results of 2016, Melon Fashion Group had 558 stores in six countries: Russia, Ukraine, the Republic of Belarus, Kazakhstan, Armenia and Georgia. During the year, 17 new stores were opened, another 25 changed locations. The total retail area of its own stores was 94,300 sq. m.

In 2016, active work was carried out on the development of the Internet channel. A number of updates have become available for online shoppers to simplify online purchases. Among them are improving the interfaces of online stores of all brands and reducing delivery times. As a result, sales in this channel increased by 24%, and the share in the total sales structure rose to 4.1%.

In 2016, the foundation was laid for the company's entry into the European market. It was decided to open the first stores of Melon Fashion Group in Poland.

In 2017, Melon Fashion Group will focus on preserving the results achieved and will start implementing the Quick Response project, the essence of which is to quickly create seasonal collections.