Disney Denies Russian Media Report That It Plans Retail Stores in Russia
UPDATED - The report said the company prepares to launch Disney Store, Disney Play and Disney Style retail outlets in the country
MOSCOW -- The Walt Disney Co. said that information in a report by Russian business daily Kommersant that Disney is preparing to open retail stores in Russia, is “inaccurate. ”
“[W]hile we are always evaluating global growth opportunities, there was nothing new to announce,” a spokesperson for Disney Consumer Products told The Hollywood Reporter.
On Oct. 23, Kommersant reported, quoting unnamed sources, that he entertainment giant plans to open and operate three Disney Stores in Moscow and St Petersburg in late 2014 and is looking for local partners to operate Disney Play toy stores and Disney Style children’s clothing stores.
According to the report, Disney is currently considering spaces in several major shopping centers in Moscow and St. Petersburg as possible locations for Disney Stores, while the company is also running a tender among local retailers to choose the operator for the Disney Play and Disney Style venues.
The operator would pay a license fee to Disney and would have to independently deal with suppliers of Disney products.
Disney’s Moscow office opened in 2006. It operates local co-owned distributor Walt Disney Studios Sony Pictures Releasing, runs the local version of Disney Channel and produces features for the local market.
The company has previously said that license fees for consumer goods account for a third of Disney’s revenue in Russia.