Head of the Benetton Group office for Russia, CIS and Baltic countries Andrey Grigoryev at the Benetton shop in the former Krasnopresnensky department store in Moscow
Photo: Sergey Mikheev
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Benetton Goes for the Men
The Italian corporation Benetton Group will launch a new chain of men's stores next year to be called Benetton Uomo. The chain will appear next spring in all countries where the company is now active, including Russia. Experts think that the company will double its sales of menswear. According to Andrey Grigoryev, general director of the company's Russian office, the new chain will be aimed at the same segment of the public as the main stores, with the average purchase ranging between $40 and $50. The target purchaser will be a man between the ages of 16 and 40. The stores will carry a full line of menswear, from underwear to business suits. “The main accent will be on casual wear,” Grigoryev said.
Grigoryev said the creation of the new chain was motivated by “the growing demand for men's clothes all over the world.” He said the first store in Russia will open in the spring of next year, but possibly not in Moscow. Between five and ten Benetton Uomo stores will open in Russia in the course of the year, each with a sales area of 150-200 sq. m. Investment in one store will run $300,000-400,000. The Benetton central office confirmed the launch of the new chain, but declined to comment in detail.
Benetton is active in 120 countries and owns the clothing brands United Colors of Benetton, Sisley, Playlife and Killer Loop. It has about 5000 stores around the world and turnover of €1.8 billion, with net profit of €112 million. The first Benetton store in Russia opened in the GUM shopping center in Moscow in 1992. It now has about 150 stores in Russia. The Russian Benetton chain had turnover of over €100 million in 2005.
Abaxbank analyst Helena Sotonella told Kommersant that “traditionally, Benetton has been considered a women's clothes brand. Men's clothes took up about 14 percent of the assortment at Benetton and accounted for 10 percent of sales.” She expected sales of Benetton men's clothes to double in three to five years and for the men's chain to attract new customers to the main chain.
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All the Article in Russian as of Dec. 15, 2006
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