Sunday, June 17, 2018

Adidas launches new Yekaterinburg store

German sports clothing manufacturer Adidas is setting up a new format store in the city of Yekaterinburg in the Raduga Park Shopping Center.

The store will offer a wide range of brands in one location, including Adidas Style by Porsche Design and NEO, Adidas Originals by Jeremy Scott and Adidas Performance, including Adidas by Stella McCartney, reports.

Each variety of sportswear will be displayed in specially designed areas. The new type of store will be used in large cities with high incomes where the company can obtain the best locations. The store will have an area of more than 780 square meters.

The preliminary rental contract between the developer and the retailer was signed in June. Magazin Magazinov/CBRE brokered the deal and acted as the exclusive representative of the interests of the developer.

Adidas signed a $621.3 million revolving credit facility on Wednesday to secure the company's financial flexibility and long-term cost-effective financing. The five year facility includes two one year extension options exercisable at the end of the first and second year.

"The success of the transaction shows once more the strong standing the Adidas Group enjoys in the international capital markets," Robin J. Stalker, CFO of Adidas AG, said. "Throughout the last few years, we have continuously strengthened our capital structure and diversified our financing. The ongoing strength of our cash flow generation allows us to reduce the size of the new revolving credit facility."