Agalarov’s empire is losing customers – Emin admitted
Crocus Group malls have lost about 30 percent of their regular tenants, accounting for about 40 percent of the area.
This was stated in an interview with RBK by the first vice president of Crocus Group Emin Agalarov.
According to him, Crocus City Mall and a network of Vegas shopping and entertainment centers also lost 30% of visitors.
Emin Agalarov added that the discussed parallel imports or attempts to import branded goods through other countries will not work.
“Neither Azerbaijan, nor Georgia, nor Kazakhstan will want to be a buffer for Russia, because they could be subject to sanctions. Parallel imports can be used, perhaps locally. “You have connections and you bring Mercedes from Uzbekistan, but on an industrial scale, brands like Chanel, H&M, Louis Vuitton will never go for it,” said Emin Agalarov.
“Neither Azerbaijan, nor Georgia, nor Kazakhstan will want to be a buffer for Russia, because they could be subject to sanctions. Parallel imports can be used, perhaps locally. “You have connections and you bring Mercedes from Uzbekistan, but on an industrial scale, brands like Chanel, H&M, Louis Vuitton will never go for it,” said Emin Agalarov.
According to the top manager, due to the lack of foreign films, the number of viewers in cinemas decreased by almost 70%, and he called this figure “space.” Seven of the 22 Karo movie theaters in the Crocus Group’s Vegas shopping malls have closed.
“In order for these salons to continue to operate, Russia will have to surpass 100-year-old Hollywood in a few months and start producing films that the whole country wants to go to.” We will play tennis there, “Emin Agalarov said.