SOKOLOV expands franchise network beyond Russia

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