(Reuters) - French
luxury goods maker Hermes will reopen one of its two Moscow
shops on Thursday after tripling its selling space in a gesture of
long-term confidence in the market.
Hermes first opened the shop in Russia's landmark GUM shopping center on the Red Square in December 2007.
The original store occupied around 250 square meters
but after expansion and relocation within GUM, the shop's selling space
has risen to 740 square meters and it now offers clothing, accessories,
watches and jewelry, perfumes, and home collections on three levels.
The store, now the company's second-biggest in Europe,
will open at a time when Russia's economy has experienced a sharp
downturn.
The company's chief executive officer Axel Dumas said the investment was taken for the long-term.
Nicolas Vlieghe, Hermes Russia Managing Director, told
Reuters the company's Russian sales were rising without providing
details.
Hermes took direct control of its Russian stores in
2011 from a local retail partner, having opened two stores in the
capital city of Moscow in 2000 and 2007.
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