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17.10.2018 | Наталья Кулагина

Stockmann – changes in the Russian market

The company Stockmann has announced the sale of its last asset in Russia – shopping center in St. Petersburg «Nevsky Center». The concern has signed an agreement on the sale of the object of the Czech company PPF Real Estate for 171 million euros. The transaction is planned to be closed by the end of 2018 after its approval by the Federal Antimonopoly Service.


The sale of the Nevsky Center, which opened in 2010, became known two years ago. The buyers were the American fund Morgan Stanley and the investment company Malltech, but they refused the deal due to complications in the political situation.



Lauri Veikhalainen, CEO of , said that the sale of the asset will allow Stockmann to focus on the development of its stores in Finland and the Baltic states.


In the press service of Stockmann JSC – the Russian representative of the Finnish brand Stockmann, noted that the departure of the Finnish concern from the Russian market will not affect the activities of the domestic network. Development priority Stockmann will actively expand into the regions and develop the e-commerce market.



As part of this strategy, the department store chain Stockmann announced the closure of a store in the Moscow shopping center "Metropolis" on November 1, 2018. This is due to the optimization of business and customers are invited to use the nearby department stores in the «Fleet» and Mega Khimki shopping center. In parallel, the companies announced the launch of an online store , developing an omnichannel sales strategy. The assortment of the online store «Stockmann» will not differ from what is presented in offline stores. The possibility of returning goods is provided in any of the department stores.


Photo: shutterstock