News

OR GROUP has completed the first stage of rebranding and renamed the main operating company

3 March 2021

OR GROUP (previously Obuv Rossii Group; MOEX: OBUV / hereinafter Company or OR PJSC, or jointly with subsidiaries and affiliates — Group) announces the completion of the first stage of rebranding. The Group renamed the main operating company, the issuer of bonds, Obuv Rossii LLC, to OR LLC. Next it will rename the parent company, which is the issuer of the shares, — OR PJSC. The stock ticker on Moscow Exchange will be updated in the near future.

On November 26, the Board of Directors of OR PJSC approved the Group's rebranding project. The purpose of the rebranding is to move away from the highly specialized positioning of the company as a shoe retailer due to the fact that the business of the Group has significantly transformed, and the company is developing new directions that go beyond the fashion segment. Now the Group relies on a universal retail format and marketplace, integrates into the logistics infrastructure of Russian online retail market and develops an ecosystem of services for customers.

«Rebranding is an important stage in the development of our company. It has been the first corporate rebranding ever. In 2020, we transformed our business model, modernized our stores, and strengthened the service component by connecting new large partners to the project of pick-up points. In the 4th quarter we launched updated versions of mobile application and website for westfalika.ru online store in the marketplace format. The changes that have taken place in the company are already yielding results: in January 2021, the share of online sales in the revenue of Westfalika trading platform reached 23.4%, — comments Anton Titov, CEO of OR GROUP. — Developing new directions and entering new markets we target at increasing business volumes and key financial indicators such as revenue, EBITDA and net profit».

The change in the name of a legal entity being the part of the Group does not entail the termination of the legal entity activity and / or the transfer of rights and obligations to another entity and does not affect the performance of its obligations.