News

Obuv  Rossii group of companies  summed up financial results for 2010. Net  revenue  of Obuv Rossii  for the reporting period amounted to 1.6  billion rubles, an increase by 20% as compared with 2009. Profitability  on EBITDA - 11,62%. Net profit in 2010 amounted to RUR 100 million, up  10% over 2009.

In 2010 Obuv Rossii  staked on  the  development of Westfalika network  and opened 20 stores, investing more  than 70 million rubles in the development of the network. The company  entered into new regions - Perm and Nizhny Tagil. In Perm the first  store was opened in early July, at the end of  the year Westfalika  network  had already 4 shops in this city.

In 2010 Obuv Rossii   completed the rebranding of the core network Westfalika by re-equipment  all the stores in a new style. In December 2010 the company signed an  annual contract with the singer Valeria to use her image for promoting   the brand Westfalika. Collaboration with the singer is not limited only  by advertising campaigns, Valeria is also involved in the development of  new collections from Westfalika (a special line of "Shoes by Valeria").

Since the autumn of  2010 Obuv Rossii launched the network project "selling footwear by  installments" which had no analogues in the Russian footwear market. In  November installment service became more popular than consumer lending.  In 2010 sales of shoes on credit and by installment amounted to 315  million rubles.

In 2010 Obuv Rossii continued to work actively with the banks. The main  partners of the company today are  Sibirsky bank Sberbanka Rossii and  Bank Mezhdunarodny Finansovy Klub. In spring 2010 rating agency "Expert  RA" confirmed the reliability of the company increasing the rating of  Obuv Rossii to "B +".

In 2011  the company  will expand Westfalika network. The company is planning to open more  than 40 stores, priority regions for the development - the Ural and  central Russia. Projected net revenues of Obuv Rossii wiil be 2 billion  in 2011.