“Children’s world” will move to the building near Lubyanka

Shop “Children’s world” in the building of Voentorg on Vozdvizhenka

Photo: Lori

“Children’s world” will take its flagship store in the building next door with its “historical” place in the Lubyanka. The network will open a Department store in the gallery “Fashion season” on Okhotny Ryad

That flagship store “Children’s world” will move from the building of Voentorg on Vozdvizhenka street in the shopping gallery “Fashion season” at the Duma, told RBC several participants in the commercial real estate markets and children’s products. According to one of interlocutors of RBC, store opening scheduled for spring 2017. The area of the store “will not be less than the current 7 thousand square meters of the flagship in the Military,” says the source and adds that, “based on the current space gallery, “Children’s world” can occupy the area of the store Podium market (takes about 13 thousand sq m on two floors. — RBC)”.

“At the moment we are in the process of negotiations on radiolokatsii our shop inside the shopping Mall”, — has transferred through a press-service creative Director of Podium market Polina Kitsenko.

“Children’s world” will open a store in the “Fashion season”, confirmed a representative of the press service of the retailer. The store on Vozdvizhenka network also plans to keep.

The road home

Sistema acquired a controlling stake in JSC Detsky Mir in 1995 and made it a full-fledged retail network with the flagship in the Lubyanka. In July 2008, the Central Department store was closed for renovation, which was to be completed within three years. But because of the crisis, Sistema had to make changes to their plans: in 2009 the company Vladimir Yevtushenkov was forced to sell for a symbolic 60 rubles the developer “a daughter” “Sistema-gals” along with the building on Lubyanka VTB Bank in the framework of debt restructuring more than $1.3 billion.

Changes in the structure of investors in the end delayed the opening almost seven years: the Central children’s store received its first visitors in spring 2015. Despite the desire of the Child to return as the anchor tenant in the renovated Department store, which said the General Director of a network Vladimir Chirkov in 2014, the main tenant became a British toy store Hamleys World, developing the franchise company Ideas4retail Alexander Mamut and Yevgeny Butman.

New location for the flagship store itself “Children’s world” is also found not at once: only in 2014, the company announced the signing of a ten-year lease in the building of px — one of the most famous Soviet stores, closed in the early 1990s due to an emergency condition. In 2002, the owner of the building was a group of act Telman Ismailov, who sold it in 2009, “Nafta-Moscow” Suleiman Kerimov. That, in turn, a year later gave the px structures Rybolovlev at the expense of part of shares of “Uralkali”. In 2014, the px was for sale, and the BIN group offered him about 12 billion rubles (deal fell through). Now the main contender for the purchase of a building is Alliance company Avica, which manages private equity funds in commercial real estate, and Chinese Fosun.

How does the “Children’s world”

Revenue GC “Children’s world” in the first half of 2016 amounted to RUB 33.7 billion, net profit of 627 million rubles Under the management of the group’s 400 stores “Children’s world” and another 44 points under the ELC brand. At the end of 2015, Sistema sold is 23.1% of the retail company Russia-China investment Fund (owned by the Russian direct investment Fund and China Investment Corporation) for 9,75 billion rubles As stated by the main owner AFK “Sistema” Vladimir Yevtushenkov in March 2017 Detsky Mir may hold IPO.

Central stores

According to one of interlocutors of RBC in the real estate market, “Children’s world” wants to occupy space in the “Fashion season”, including to “take the traffic of the Central children’s store on Lubyanka”. “Failed back to “historic walls” of the Department store shareholder of “System” and top managers of the company has been a rather “painful”, — says another source of RBC.

In addition, the interlocutors of RBC believe that the location of this place will be another attempt to “Children’s world” open shop “premium format because it is strange to open in one of the most expensive Department stores conventional supermarket”. However, projects in the premium children’s retail “Children’s world” has been, but these were not successful. Operator for six years trying to develop the children’s gallery “Yakimanka”, but at the end of 2014 sold the building to owner located next to shopping centre “Gimeney”.

The CEO of INFOline-Analytics Mikhail Burmistrov believes that the new attempt to return to the premium format may be more successful. In his opinion, over the last two years Children’s world “has significantly improved its position in the market and increased the company’s efficiency”. “Location close to the Central children’s store on Lubyanka may even play into the hands of both stores — said Burmistrov. Shoppers at premium stores like choice, so stores won’t waste each other’s customers.”

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