Who will replace the departed brands?

More and more sports clubs, beauty salons, climbing walls appear in our shopping centers. The trend was spurred on by the exit from the Russian market of a number of international chains, which previously occupied huge areas in shopping centers. Shops are now the first in line for renting space in the shopping center.

“The trend to find and replace tenants is really noticeable,” says Dmitry Moskalenko, president of the Russian Council of Shopping Centers. So far, the shopping centers are trying to replace the departed tenants with similar ones operating on the Russian market. Moskalenko clarifies that new deals may well compensate for the profit lost due to the departure of former tenants. Especially considering that in the past two years, many stores have received discounts on rent. Both new tenants and the shopping centers themselves are interested in long-term contracts, he emphasized.

07 JULY / 2022