"Obuv Rossii" will change its name and positioning

"Shoes of Russia" will change the name and positioning Company group "Shoes of Russia" will change its name and will operate under the OR Group brand, writes "Kommersant".

This is due to the fact that the Group of Companies intends to go beyond the fashion segment and develop as a universal trading platform called OR Group..

"The update also includes the change in the names of the group's legal entities, which will take place in several stages. Main operating company of the group LLC "Shoes of Russia", bond issuer, will be called LLC "OR". The parent company serving as the issuer of the shares will change its name from PJSC "OR" at PJSC "OR Group". Stock ticker on "Moscow Exchange" planned to change from OBUV to ORGG", - writes edition.

The entire rebranding process should be completed by the summer of 2021.

Rebranding project approved by the board of directors of the group "Shoes of Russia", said in a message from the GC on Monday.

"The group is now betting on a universal retail format, an offline online marketplace, integrating into the logistics infrastructure of the Russian online trading market and developing financial services. Thanks to the implementation of new initiatives, the group plans to significantly expand its assortment in the next five years, double its retail revenue, increase its online presence, increasing the share of online sales in retail revenue to 50%", - the message says.

GK "Shoes of Russia" founded in 2003 in Novosibirsk. The main shareholder of the group is Anton Titov, who owns 50% in the parent company of the group - PJSC "OR". The retailer currently operates a department store chain with 843 outlets in 336 Russian cities..