Moscow -- Multiple sources in Moscow on Wednesday said that Victoria’s Secret will open its first Russian store in Moscow on Sept. 30.
According to local paper Vedomosti Business Daily, experienced American brand franchisee Moneks will open four Victoria’s Secret stores in and around Moscow prior to year’s end.
Moneks Trading, which operates U.S. brands such as The Body Shop, Claire’s, Mothercare and American Eagle, is said to be opening a second Victoria’s Secret store in Moscow in October, a third in November and a fourth in December. Moneks has not formally commented on the openings.
Russia is a robust lingerie market, as sales last year in the category rose 12% to $5.23 billion, eclipsing results both in the United States and Europe.