Gloria Jeans, Russia’s leading apparel retailer, posted a 50% increase in sales in 2012, compared with 2011, to RUB23.3bn (US$753m). According to owner Vladimir Melnikov, the company had 545 stores at the end of 2012, which was 25% more than at the end of the previous year. Net profit increased by 22% to RUB3.81bn (US$123m).
The company’s growth was significantly higher than that of the whole Russian apparel retail market in 2012, which grew by an estimated 9-10%.
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