Familia, the leading Russian off-price clothing retailer, has seen its 2021 revenue go up by 36 per cent to clock 34 billion roubles – or US $ 453 million.
The retailer also said that buoyed by the good numbers, it now plans to expand its range of products, besides launching new categories and enhancing its presence throughout Russia moving forward.
Corroborating further, Svetlana Mozhaeva, CEO, Familia, said that though the off-price format is relatively new to the Russian market, it’s been growing both in terms of recognition and significance.
Besides generating good revenue for the year 2021, the retailer also launched as many as 80 new stores in 2021, with the retail footprint now including 397 locations in and around the capital city of Moscow.
Additionally, Familia’s supplier base also increased in 2021.
Started in early 2000s, Familia stores currently sell clothing, shoes, accessories, cosmetics, textiles and home decor items, amongst others.
