Finnish chain Stockmann to invest in Russia
HELSINKI--Stockmann, Finland's upmarket store chain, has opened a Western-style department store in Moscow. Unlike Russian stores, Stockmann Moscow contains a multiplex of stores and an underground car park with access to 40 stores. Located at the Smolensky Passage business center and representing a capital cost of $20 million, the 5,000-square-meter store houses major specialty goods categories on three floors and under one roof. Most of the goods sold will be sourced from Western suppliers, including well-known fashion, food and household products brands.
Copyright December 1998, Crain Communications Inc.