Stockmann will replace Podium Market
In 2017, the Podium Market chain began to experience financial problems due to problems with suppliers, and it was decided to close multi-brand clothing stores. But the situation was temporarily saved by the company Reviva Holdings, which has owned the Stockmann brand since 2016 and is developing it in Russia, which bought out the Podium Market stores throughout the country. They continued to work under their own brand and partially with the old team, but the final fate of the retailer was unclear.
Currently, the company Reviva Holdings Limited has decided to develop its main networkStockmannas more efficient, and the stores Podium Market to close permanently. This was announced at a press conference on December 4 by the co-owner of «Stockmann» Yakov Panchenko. "Initially, the goal was to redo all the points for Stockmann, but since it is impossible to do this quickly, we decided to see how viable the Podium Market brand itself is." explained Panchenko.
The Podium Market department stores will complete their work in mid-January 2019, and in February stores under theStockmann brand will open in their place.