Russia’s SOKOLOV jewelry brand has opened two single-brand flagship stores on franchising terms thus starting the development of a retail network in Romania and Moldova, according to uvelir.info.
To date, the jeweler opened its flagship stores in the Shopping MallDova in Chisinau (Moldova) and in the Palas Mall in Iasi, Rumania’s second-largest city after the country’s capital.
The pilot project in the Romanian market started in December 2020, when a retail outlet in the "island" format was launched in the Afi Cotroceni shopping center in Bucharest as a franchise. The successful start marked the beginning of the project for the development of a franchise network abroad.
"The development of a franchisee network is part of our omnichannel distribution strategy," says Artem Sokolov, Managing Partner of SOKOLOV. – “In Russia, our franchise network has 25 stores, by the end of the year there will be more than 50 of them. SOKOLOV franchises operate according to an effective proven business model, guaranteeing a stable profit to the partner. Any store built according to our matrix reaches its payback in 2 years."
SOKOLOV jewelry is currently sold through partner networks in 22 countries, including Australia, Azerbaijan, Armenia, Bulgaria, Germany, Georgia, Israel, Kazakhstan, Canada, Cyprus, Kyrgyzstan, Latvia, Lithuania, Moldova, the United Arab Emirates, Poland, the Republic of Belarus, Romania, the United States, Uzbekistan, Ukraine, and Estonia.
SOKOLOV plans to open its own flagship or franchise store in each country of the brand's presence.
Alex Shishlo for Rough&Polished
Exclusive
Ellah Muchemwa: ADPA to launch Africa's first diamond mining standard next year
The African Diamond Producers Association (ADPA), which is based in Luanda, Angola, and represents the interests of mainly African diamond producers and those with the potential to produce diamonds, will next year launch the Sustainable Development...
04 november 2024
Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future
Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...
28 october 2024
Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki
The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...
14 october 2024
James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration
London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...
07 october 2024
Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products
Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...
30 september 2024
