Russian off-price retailer, Familia, increased its turnover by 32 percent in the first half of 2021 compared to the same period in 2019 (prior to the spread of the Covid-19 pandemic disrupting its retail operations in 2020). Turnover for the period reached 18.8 billion roubles ($254 million); revenue from comparable stores increased by 4 percent and total footfall rose 17 percent.
The strongest growth in demand was seen in categories such as t-shirts, sweatshirts, trousers, dresses, underwear and sneakers.
Between January and June, more than 400 new brands from 40 countries were introduced in Familia stores. The retailer opened 39 new stores in 30 Russian cities, bringing its retail footprint to a total of 355 locations.
Familia offers a wide range of goods (clothing, footwear, accessories, household goods, sporting goods, toys, cosmetics and food) and works with more than 7,000 brands and suppliers from 50 countries around the world.
Further Reading: Russians Seeking Bargains Have Discounter Familia Eyeing IPO
Russia’s biggest off-price fashion store is considering an initial public offering after a record listing by Fix Price Group Ltd., as local discounters thrive during a seven-year slump in incomes.