NEVSKY CENTRE COMPLETED. STOCKMANN'S RUSSIAN FLAGSHIP OPENS IN ST PETERSBURG

STOCKMANN Oyj Abp Press release 11.11.2010

NEVSKY CENTRE COMPLETED. STOCKMANN'S RUSSIAN FLAGSHIP OPENS IN ST PETERSBURG

The Nevsky Centre shopping centre, just completed in the heart of St Petersburg, will celebrate its official opening today (Thursday 11 November 2010), and will open its doors to the public tomorrow (Friday 12 November 2010). The shopping centre, located on the city's high street, Nevsky Prospect, will be the Stockmann Group's flagship in Russia. Besides housing the largest Stockmann department store in Russia, the shopping centre has dozens of other shops, restaurants and service companies, as well as office premises and an underground car park.

The Nevsky Centre is located centrally on the corner of Nevsky Prospect and Vosstaniya Street, next to the Vosstaniya Square metro station and very near the Moscow railway station. The area has a lot of pedestrian traffic, and the underground car park for 565 vehicles also makes the shopping centre easily accessible for drivers.

New shopping concept

The Nevsky Centre has 98 000 square metres of floor space, and commercial services on seven floors. As a representative of an entirely new kind of shopping concept in Russia, it has adopted the slogan ‘A new shopping culture'.

At the core of the Nevsky Centre's commercial services is Russia's largest Stockmann department store. With 20 000 square metres of retail space, it is the Stockmann Group's second largest department store after the Helsinki store. The department store operates in a high-quality international shopping environment on five floors, offering a uniquely comprehensive and high-grade selection of fashion, home furnishing and everyday goods in different price classes. The selection includes both well-known international brands and Stockmann's economically-priced own brands. The Stockmann department stores are known for their expertise and excellent customer service. The store's special attraction is its 3200-square-metre Delicatessen, which sells fresh, high-quality foodstuffs at competitive prices.

In addition to the department store, commercial services are available in 20 600 square metres of floor space on six floors. A total of 77 shops and service companies complement the department store, making the Nevsky Centre a very attractive destination due to the wide variety of goods and services it offers the people of St Petersburg. The product selection is oriented towards fashion and products for the home. The Nevsky Centre's numerous fashion chains include Lindex and Seppälä, both part of the Stockmann Group, as well as H&M, Vero Moda and Jack&Jones. Customers can also relax in 14 cafés, restaurants and other refreshment areas, with seating for 1400 people. Located on the shopping centre's sixth floor is a Ginza restaurant with panoramic views, as well as fitness and beauty services. The highest floors, 8 and 9, have some 5500 square metres of office space.

Stockmann's own investment

Stockmann acquired a 10 000-square-metre commercial site for the shopping centre in 2006. The existing buildings on the site, which were in poor condition, were demolished, the beautiful facades facing the streets were rebuilt and a modern shopping centre was erected. The developer was Pöyry CM Oy and the main contractor was Kitai Stroi, the Russian subsidiary of a Chinese state-owned construction company. The property is fully owned by Stockmann and the total investment is approximately EUR 185 million.

Stockmann is a Finnish listed company which was founded in 1862. The Stockmann Group's business chains operate in 13 countries, and operations are continuously expanding. Stockmann's sales exceeded EUR 2 billion last year, and the Group employs about 15 000 people.

Stockmann began trading with Russia in the 1960s by supplying goods from Helsinki to diplomats and other foreigners living in Moscow. In 1989, Stockmann became one of modern-day Russia's first foreign trading companies to open a store in Moscow. Operations have expanded so that the Stockmann Group currently has five department stores in Moscow and nearly 70 fashion stores in Russia's largest cities. The Stockmann department store in the Nevsky Centre is the company's fifteenth department store overall, and Russia's first Stockmann department store outside Moscow. The opening of Russia's seventh Stockmann department store in Ekaterinburg is planned for March 2011.

STOCKMANN Oyj Abp

Juhana Häme Manager, Corporate Communications

DISTRIBUTION Principal media





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