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Business news, 19.11.2003 11:56

Edmins Company equalizes businesses in St. Petersburg and regions

Edmins Company By 2005 the St. Petersburg company Edmins, producer of gloves and other fancy goods, is planning to triple the number of its outlets up to 29. In the estimation of the company’s CEO Evgeny Tzivin, the volume of investments in the new sales outlets makes about $700.000-750,000. Upon successful completion of this investment plan the company’s turnover will increase from $10 million to $16 million. Nowadays Edmins owns 6 sales outlets throughout St. Petersburg, as well as two in Moscow, one in Omsk and one in Samara. In December the company intends to open its first shop in Novgorod and one more department outlet in Moscow. By the end of 2005 the number of Edmins shops in St. Petersburg will have increased by 15. In 2004 the company also plans to open four more salons, one of them in the “PIK” mall which is being built on Sennaya Square in St. Petersburg. Evgeny Tzivin regards “Adamant Ltd.” and “Makromir” Company as his strategic partners to saturate the local market with fancy goods. Edmins has been co-operating with the Moscow management company “Colliers International”, and by 2005 they plan to open there seven department outlets in a big mall. Edmins has been able to expand its business through other regions together with “Mezhbankovskaya Investitzionnaya Gruppa Ltd.” (MIG). Apart from Novgorod, the company is also opening its shops in Chelyabinsk, Tyumen, Novosibirsk and Ekaterinburg. Each new Edmins shop will have a total area of 100-150 square meters.

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