After the departure of the parent company, the stores passed to a new owner and opened under new names.
The Russian division of the Polish retailer LPP SA (clothing brands Reserved, Sinsay, Cropp, House and Mohito) after the sale to the Chinese consortium will purchase goods from new suppliers. This vc.ru was told in Re Trading, which manages stores in Russia.
Goods will be produced and delivered mainly from China and other Asian countries, which have many years of experience working with fast-fashion brands and more expensive brands, the company noted. The work of the Russian office directly with suppliers will reduce delivery times, as well as improve the assortment, the retailer expects.
The company will not purchase branded goods directly from LPP and does not consider parallel imports, the Russian office added.
- LPP closed all stores in Russia on March 29, 2022 and announced in May that it would sell the Russian business to a Chinese consortium.
- The deal did not include the rights to the brands, but the new owner will be able to sell all the goods that belong to the Russian division.
- According to a Kommersant source close to LPP, the group’s subdivision in China became the buyer of the Russian business. The Russian office told vc.ru that the name of the buyer is not being disclosed at this time.
- On May 20, stores began to open in Russia under new signs: Reserved – Re, Mohito – M, Sinsay – “Sin”, Cropp – CR, and House – “Xs”.
Source: Svobodnaya Kassa