MOSCOW, Feb 10 (Reuters) - Azerbaijan's PNN Group will opentwo stores selling SuperGroup's Superdry clothing labelin Russia in the coming months, despite gloomy expectations forconsumer sentiment due to a slump in the rouble and a founderingeconomy.
SuperGroup said two franchised stores would open at the endof April and further expansion would depend on how they perform.
"There will be step decision on the remainder of the plannedrollout. All of those stores will only be in Moscow," aspokesman for SuperGroup said.
Superdry is the first foreign fashion brand to enter theRussian retail market this year. Several others, includingprivately-owned British retailer New Look, haverecently left or scaled down their presence.
Russian consumer sentiment has plunged to historic lowsbecause of high inflation and interest rates.
Property consultancy Cushman & Wakefield said PNN Group hadexclusive rights to represent the fashion brand in Russia andwould open two Superdry stores in Moscow shopping malls withfloor space of 850 and 900 square metres, adding it planned toopen more than 10 stores in Russia before 2020.
Superdry products are sold in more than 100 countries viaits own UK and European standalone retail stores, as well as viaconcessions, franchised and licensed stores and its website.
The firm has said it has expansion plans "everywhere", withGermany being the main focus in Europe. It sees markets such asthe United States and China as offering potential. (Reporting by Maria Kiselyova; Editing by Alexander Winning andSusan Thomas)