Home  Issuers' Corner  Press Releases
CLOSE

Press Releases

company search
all press releases
all Financial Corporation "Sistema" press releases

Financial Corporation "Sistema"

October 22, 2014

Sistema invests in Concept Group

Moscow, Russia - October 22, 2014 - Sistema JSFC ("Sistema") (LSE: SSA), the largest publicly-traded diversified holding company in Russia and the CIS, today announces that it has completed the purchase of a 40% stake for a total consideration of approximately RUB 1 billion in a holding company that owns Concept Group, one of Russia's leading fashion clothing retailers by revenue growth. 

In accordance with the terms of the signed documentation Sistema has an option to increase its shareholding in Concept Group to a controlling stake within three years. 

Founded in 2004, Concept Group creates collections and sells women's clothing, accessories, lingerie as well as children's wear through its own stores, franchises, online and wholesale channels. It operates under the Concept Club, Bestia, Infinity Lingerie and Acoola brands. As of the end of 2013, Concept Group's retail chain comprised 287 stores in 103 cities across Russia with an average store area of 100-250 sq.m. In 2013, Concept Group's revenue exceeded RUB 5 billion, demonstrating increase of nearly 40% in comparison with its revenues in 2012. 

Mikhail Shamolin, President and CEO of Sistema, commented: 

"Concept Group is a fast-growing company with a proven business model and an experienced management team. The Russian clothing market has been developing rapidly over many years and has high potential for organic and non-organic growth. We believe that Concept Group is an attractive investment, which offers an opportunity to broaden our presence in the promising retail segment." 

*** 

For further information, please visit www.sistema.com or contact: 

 

 

 

Public Relations

Olga Gudina

Tel.: + 7 (495) 730 7188

Gudina@sistema.ru

Investor Relations

Evgeniy Chuikov

Tel.: +7 (495) 692 1100

ir@sistema.ru

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z



Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer