Jamilco buys operator of Mothercare shops in Russia

MOSCOW. Nov 23 (Interfax) - MFK Jamilco, a clothing distributor and retailer, has received 99.99% in Moneks Trading LLC, according to data from the analytical system SPARK-Interfax.

Moneks Trading developed the brands Mothercare, Victoria's Secret, etc. under franchising agreements in Russia.

The remaining 0.01% went to the Cypriot legal entity Losford Trading Ltd., affiliated with Jamilco. The owners structure changed on November 22.

A week ago, the Russian Federal Anti-Monopoly Service reported having received a request from MFK Jamilco to buy Moneks Trading. Jamilco's interest in the Russian business of the British children's clothes and goods network Mothercare was previously reported by Kommersant. According to the report, the deal will give Jamilco the right to lease the shops that operated under the Mothercare, as well as the commodity stock.

Moneks Trading is owned by the Middle Eastern retailer Alshaya Group. Moneks Trading reported the closure of all retail and online stores in Russia in June.

Jamilco is one of the oldest players on the Russian luxury retail market. The company's portfolio includes the brands St-James, Salvatore Ferragamo, New Balance, DKNY, Juicy Couture, Timberland, etc. The company runs its own retail: it has more than 150 shops in Moscow, St. Petersburg, Yekaterinburg, Sochi, and Rostov-on-Don.