The Russian subsidiary of the Polish retailer LPP announced the change of owner.
Russian stores, formerly owned by Polish LPP, have been taken over by Far East Services - FZCO from the United Arab Emirates. These are Reserved, Cropp, House, Mohito and Sinsay brands.
According to the register, FZCO received 95% of the business and 5% went to Anna Pilyugina, general director of LPP S.A. in Russia. In May, LPP said it had sold the Russian unit to a Chinese consortium.
Under the agreement of the parties to the transaction it was announced that the buyer would not receive the right to use the names and brands of clothing owned by LPP, but will acquire the right to sell all the goods of the Russian company. Later, the chain's stores began to open in Russian shopping centers, receiving new names - RE, Cr, M, XC, Sin.