OREANDA-NEWS. On 19 June 2009 was announced, that the British department store group Debenhams makes a second attempt to enter the Russian market through its franchise network to be developed by AS Capital Department Store.

The contracts to lease two areas in Moscow have been already signed. Expert estimate that opening of each store will cost the British group ?6 to ?8 million.

Debenhams stores with the area of roughly 3,000 square metres are to be open in the reconstructed building of Minsk Hotel on Tverskaya Street where Summit mixed-use complex will operate and in Mall of Russia retail and entertainment centre under construction within MIBC Moscow City. The stores are scheduled to be open by 2011.

As a reminder, Debenhams has already tried to launch its project in Moscow – the pilot store by the British group was open on Krasnaya Presnya in 2006. However, due to the inconvenient location and poor attendance Debenhams had to close the store and petitioned for its bankruptcy.

Debenhams retail network is owned by Baroness Retail. It includes 153 stores across the UK and Ireland as well as a network of franchised stores in 15 countries of the world, basically in Asia.