Crockid

History

2023: Krokid bought a warehouse in St. Petersburg for the development of online trading for hundreds of millions

The Krokid Group, a Russian manufacturer of children's clothing in Russia and the CIS, has signed an agreement on the purchase of more than 3,200 square meters. m of warehouse space in the PromBox industrial park on the territory of ILR Shushary in St. Petersburg. This was announced at the end of August 2023 by the press service of the NF Group, which acted as a consultant in this deal.

The deal opens up new opportunities for the development of the company. The organization of mezzanine storage made it possible to triple the storage area. The warehouse has implemented modern methods of storage and assembly, which made it possible to reduce the delivery time to the buyer, as well as expand the representation in the company online and reach a new, not yet mastered, marketplace, the Crocid group said.

Clothing manufacturer "Krokid" bought a warehouse in St. Petersburg for the development of online trading for hundreds of millions

Even before the deal, Krokid had five warehouses in St. Petersburg, Samara, Yekaterinburg, Ufa and Kemerovo. The sixth logistics facility will be used to develop an online delivery service. The manufacturer expects to increase the inventory and reduce the delivery time of orders.

Experts interviewed by Vedomosti say that the purchase cost amounted to 250-300 million rubles. Alexey Lazutin, managing partner of Brokerus, estimated the sale of such real estate at 70,000-80,000 rubles per 1 sq. m. He also notes that this format of space is now the most in demand on the market. Analysts say that the demand for speculative warehouses continues to grow in the city (built not for a specific company, but for free rental).

The supply of free warehouse blocks in the St. Petersburg market is currently almost isolated. There is no vacancy in the north and east of the agglomeration. There are some small vacant lots in a southerly direction, which are rapidly absorbed. This fact ensures almost 100% filling of new speculative projects by the time of commissioning, "said Alena Volobueva, director of the Maris market research department[1]

2022: Stores open in Mothercare retail space

In mid-August 2022, the Russian manufacturer and seller of children's and women's clothing "Krokid" announced the opening of stores in Mothercare squares in Russia. This became known after the Kuwaiti Alshaya Group put up for sale the Russian business Mothercare.

By August 2022, Krokid Group of Companies operates stores of children's brands Crockid and Cubby, as well as a brand of women's clothing Very Neat. In total, the group unites almost 170 outlets in the country.

Opening stores in Mothercare retail space

According to Kommersant, the Russian manufacturer will open at least ten stores under the sign of Crockid in Mothercare squares. According to the representative of the company, the agreements have already been concluded on two objects, negotiations are ongoing on the rest by August 11, 2022.

At the end of July 2022, the Vedomosti newspaper reported that Alshaya Group had put up for sale Mothercare's Russian business, and was also considering the sale of inventory and the final closure of the entire network. According to 2GIS, the Mothercare chain in the Russian Federation includes 57 stores (by August 2022).

According to Evgenia Khakberdieva, director of the retail real estate department at Knight Frank Russia, Mothercare stores were located in the zone of children's goods, whose buyers are tired of the lack of familiar brands. In their place, the creation of leisure centers for children was considered, but Crocid would be a successful replacement for the outgoing company.

Aleksey Vanchugov, managing partner of Vanchugov and Partners, doubts that the large foreign networks that have suspended work in the country, including Inditex, Uniqlo, H&M, will be able to transfer rights or vacate the sites they occupy before the lease expires.

Sales in the stores of these brands per square meter are three or four times higher than those of others. Since shopping centers receive a percentage of turnover, this means that replacing the tenant will at least halve the rental flow, he says.[2]

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