August 4, 2006
Moscow´s fifth Stockman department store to open in 2006
Stockmann has signed a preliminary agreement on opening Moscow's fifth Stockmann department store in leased premises in the Metropolis Shopping Centre, the construction works of which are in progress in the vicinity of the centre of Moscow. Developed by Capital Partners of Russia, Metropolis is located in Northern Moscow along a busy thoroughfare and will, once completed, be one of the largest shopping centres in the city area of Moscow.
The Stockmann department store will have a total floor space of over 8,000 square metres and Stockmann's investment in the project will have a price tag of about EUR 12 million. The aim is to open the department store in 2008. Sales of the first full year of operation are estimated to total around EUR 30 million.
For further information
Jussi Kuutsa, development director for Stockmann Group's international operationstel.
tel. +7 905 200 66 41
Helsinki Stock Exchange
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