Oris invests 2 million euro in development of stores in Russia

Vice President of Oris Rolf Studer says that the company plans to invest up to 2 million euros in the development of a network of single-brand watch stores in Russia. As TASS reports the company plans to open 3-4 single-brand boutiques a year in biggest Russian cities. The cost of each is estimated at 300-500 thousand Swiss francs. The crisis did not affect the network development plan. According to Studer company is ready for deviation from initially expected sales at 25% towards the decrease. Because of ruble devaluation Oris raised prices over the year by 50%, but left them at 15-20% below the European level. The company estimates its share in the Russian market of Swiss watches at about 1%. This value is planned to be raised up to 10% for 3-4 years in terms of the mono-brand chain development.