(Filed Under retail Lingerie News). Limited Brands Inc. is planning to open four Victoria’s Secret stores in Moscow, Russia.
Victoria’s Secret will be making its Russian debut on September 30 in the Mega shopping center at Tyoply Stan. The second shop is slated to open October 3 at the Kapitoly shopping center, with two more stores opening by the end of 2011 at the Mega Khimki and Evropeisky shopping centers.
The franchise stores are operated in conjunction with Moneks Trading, which holds the licenses for several American retail brands including The Body Shop, Claire’s and American Eagle.
According to fashion business consulting firm Esper Group, lingerie sales in Russia have been growing at the rate of 10 to 12 percent annually, compared with 2 to 3 percent growth in Europe and 3.5 percent growth in the United States.
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