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Главная \ News \ Turkish clothing retailer Koton will open in Russia "dozens of shops"

Turkish clothing retailer Koton will open in Russia "dozens of shops".

Large Turkish clothing retailer Koton plans to open in 2018-2020 years "several dozen stores" in Russia, reports FashionUnited, citing a representative of the company.

The company plans to increase the total sales area in Russia up to 150 thousand sqm, and the number of employees — up to 3 thousand. At the present time in the Russian stores, the company employs 1 million people. The company plans to develop in cities with a population of over 500 thousand people.

In Russia there are 44 Koton stores in 21 cities. In total, 480 stores operate under the brand name — 290 in Turkey and 190 in other countries. In 2015, the company launched its online store, but in Russia it became possible to buy its products online only in January 2018, when Koton clothing appeared on the Wildberries site.

Koton offers men's, women's and children's clothing, shoes, accessories and cosmetics. The company operates in the market since 1988.

Tegs Koton store retailer
News
The Russian economy continues to lose its attractiveness in the eyes of large transnational businesses as consumers become poorer and the government continues the sanctions war with the West.

The Washington Institute of International Finance (IIF) sharply improved its forecast for the Russian economy. Its experts revised estimates of the fall in GDP in 2020 from minus 4.8% to 3.6%.

Net capital outflow from Russia by the private sector by the end of 2020 increased 2.2 times compared to the same period last year and amounted to $47.8 billion.

The decline in foreign direct investment (FDI) in the Russian Federation in January-September 2020 amounted to about 80%, according to the report of the World Bank (WB).
Net capital outflow from Russia since the beginning of the year has approached $48 billion.
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