IKEA Centres Russia, the largest shopping centre operator in Russia and part of the IKEA Group, is taking part in EXPO REAL for the first time. IKEA Centres Russia is using the event to present its major new 230,000sq m (2.5m sq ft) flagship MEGA Mytischi shopping centre in Moscow, and to showcase the great potential the Russian market has to offer to international retailers.
MEGA Mytischi shopping centre is the fourth and largest of IKEA Centres Russia’s Moscow-region centres, located in the region of the same name – Mytischi – and set to see extraordinary growth in population of 12% by 2020. When it opens in 2018, MEGA Mytischi shopping centre will become an increasingly desirable location for retailers, and a platform to stage flagship stores and unique retail concepts.
“We are excited to present our new flagship MEGA Mytischi shopping centre at EXPO REAL. We believe that this project will not only become one of the biggest retail destinations in Europe, but also will be a community hub and a place for wellbeing, discovery and inspiration for our guests,” said Armin Michaely, general director of IKEA Centres Russia.
Approximately 40% of the shopping centre’s GLA will be reserved for anchor stores (IKEA and Hypermarket) while the remaining 60% will be divided carefully with a mix of fashion and sport brands, services, food & beverage and entertainment venues. With almost half of GLA dedicated to fashion, MEGA Mytischi can accommodate a wide array of brands, ranging from value fashion to premium, plus brand flagship stores and unique retail formats.
In addition to the wide appeal of its retail offer, the 40-acre park surrounding MEGA Mytischi, its leisure activities and nearby historical landmarks will give it the unique pull of a cultural and recreational centre.
IKEA Centres Russia develops and manages 14 MEGA branded shopping centres located in the country’s 11 largest cities with populations of over one million people. The number of MEGA visitors during the 2015 financial year increased by 5m, with tenants’ sales reaching €5.6bn.
IKEA Centres Russia is also implementing upgrade and extension projects at several of its MEGA shopping centres, and develops new concepts. The company is also currently redeveloping its food courts and leisure concepts.
Its international and transparent approach to the business, and 15 years- experience of hosting international leading retailers, have allowed IKEA Centres Russia to offer a familiar western environment through its established chain of MEGA shopping centres. In 2015 alone, some 90 brands signed up to a MEGA centre, including new-to-Russia brands such as DeFacto, Pimpkie, and Popbar. Also, Turkish fashion brand LC Waikiki chose MEGA stores to open its 5 new shops in December 2015, taking 4,000sq m (43,000sq ft) in total.
Russia is Europe’s largest retail market by sales, and its retail turnover reached €340bn in 2014, making it an essential destination for international retailers seeking growth in Europe. Russia’s 146m consumers market is an attractive prospect to international retailers. Russian consumers have a huge appetite for western brands – they represent a fast growing middle class, and spend up to 70% of their pre-tax income on retail, more than any other European nation.