The economic news out of Russia these days is not very optimistic. In 2016, the country’s gross domestic product is expected to decline again, after falling 3.8% in 2015. Yet beautiful projects still seem to happen. A3 Retail Group, Nike’s local partner in Russia, announced the opening of a 3000-square-meter store in the center of Moscow.
“We manage eight Nike brand stores. This opening is a challenge for us,” said Aram Davtyan, the founder of A3 Retail Group, which also works with Vans, Wrangler and Lee. “This will be the largest Nike store in Russia and Eastern Europe. This will be the first flagship store in Moscow, on par with shops like Châtelet-Les Halles in Paris, and New York’s SoHo.”
According to local players in commercial real estate, the store opening is one of the most important agreements reached in downtown Moscow in recent years. Through its opening in early 2017 at 14 Kuznetsky Most, Nike will be setting up shop in the heart of Moscow’s fashion shopping district. The pedestrian-only streets are currently also home to the KM20 concept store, Hugo Boss, Hervé Leger, Karen Millen, plus many bars and upscale restaurants.