Leviev and H. Stern JV open 2 more Moscow stores

The joint jewelry, diamonds, and watches chain has plans for Russia and its neighbors.

Lev Leviev's Leviev Group of Companies and H. Stern Jewelry and Precious Stones Ltd. are expanding their collaboration with the opening of two more stores in Moscow at an investment of $1.5 million. One store will open in the GUM department store on Red Square, and the other store will open next month at Sheremetyevo International Airport.

A year ago, the Leviev Group and H. Stern opened their first store in the Crocu Mall, Moscow's most exclusive mall. In September 2005, two companies signed an agreement to set up a joint venture to operate a chain of jewelry, diamonds, and watch stores in Russia and other CIS countries. They own the venture in equal shares.

The joint venture is due to open 50 H. Stern stores across Russia and other CIS countries by 2010. The stores will be located in malls, airports, and hotels in Moscow, St. Petersburg, Kiev, and other major cities.

Published by Globes [online], Israel business news - www.globes-online.com - on December 18, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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