×
63 982
Fashion Jobs
LULULEMON
Assistant Manager, Operations | Legacy West
Permanent · Plano
LULULEMON
Assistant Manager, Operations | Clackamas
Permanent · Happy Valley
LULULEMON
Assistant Manager, Operations (Permanent) | San Luis Obispo
Permanent · San Luis Obispo
LULULEMON
Assistant Manager, Operations | Maryland Plaza
Permanent · St. Louis
LULULEMON
Assistant Manager, Operations | Lincoln ne
Permanent · Lincoln
LEVI'S
Warehouse Supervisor
Permanent · Canton
ESTEE LAUDER
Manager, Internal Operations, HR Services
Permanent · New York
ESTEE LAUDER
Product Manager, Digital Technology & Innovation Group
Permanent · New York
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Freehold Raceway
Permanent · Freehold Township
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Brea
Permanent · Brea
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Oakbrook
Permanent · Oak Brook
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Northshore
Permanent · Peabody
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Mall at Millenia
Permanent · Orlando
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Deerbrook
Permanent · Humble
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Cielo Vista
Permanent · El Paso
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Fashion Square
Permanent · Scottsdale
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Bridgewater Commons
Permanent · Bridgewater Township
GAP INC.
Senior Manager, Change Management - Digital Product Creation
Permanent · San Francisco
GAP INC.
Director, Product Management - Customer Analytics
Permanent · San Francisco
GAP INC.
Associate Analyst, Finance
Permanent · Albuquerque
GAP INC.
Manager, Ecommerce Performance Analysis
Permanent · San Francisco
ATHLETA
General Manager - Victoria Gardens
Permanent · Rancho Cucamonga
Published
May 17, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Turkey's FLO in talks to take over Reebok's stores in Russia

Published
May 17, 2022

Turkish shoe retailer FLO Magazacilik is in talks to buy more than 100 stores owned by fitness brand Reebok in Russia, FLO Chairman Mehmet Ziylan said on Monday, as Western companies rush to comply with sanctions over the Ukraine conflict.


Reebok


Ziylan said a deal had not been finalised, denying a report in Russian daily Kommersant that the company had already taken over the business.

"We are talking, but there is nothing more definite," Ziylan told Reuters.

Kommersant cited a source close to FLO Retailing as saying the deal had been finalised and more than 100 Reebok outlets in Russia had passed to the Turkish company's control.

Authentic Brands Group which owns Reebok was not immediately available to comment due to the early hour in the United States.

In March, the U.S. company suspended all branded stores and e-commerce operations in Russia.

Kommersant cited analysts as saying the deal, which would give FLO its first shops in the country, could be worth as much as 1.5 billion roubles ($24.8 million).

Ziylan said FLO currently makes wholesale sales to Russia, but does not have its own stores there.
The deal is likely to stir concerns that firms in Russia and countries not involved in Western sanctions are snapping up prized assets as Western companies rush to comply with sanctions over the Ukraine conflict, as well as threats from the Kremlin that foreign-owned assets may be seized.

Last month Anheuser-Busch InBev said it plans to exit Russia by selling its interest in a joint venture with Turkish brewer Anadolu Efes that operates in Russia and Ukraine and expects to take a $1.1 billion charge as a result. 

Asked about investing in Russia when many international brands had left the country following Russia's invasion of Ukraine, Ziylan said the company will follow the Turkish government's policy on the issue.

"Our country does not have an embargo there. We will continue as long as our country does not tell us to stop," he said.

NATO member Turkey, a Black Sea neighbour of Russia and Ukraine, has good ties with the warring nations and has opposed Western sanctions on Moscow.

Ziylan declined to say the size of a possible deal.

Copyright © 2022 FashionNetwork.com All rights reserved.