Dragon Capital has become the co-founder of the Ukrainian Retail Association
Dragon Capital became one of the co-founders of the Ukrainian Retail Association. The initial founders of the Association will remain co-founders and will carry out the operational management of the company with the participation of Dragon Capital. Commercial terms of the transaction are not disclosed.
Dragon Capital representatives believe that the retail market in Ukraine has great potential for growth, and professional activities of the association will contribute to its consolidation, structuring and development.
"It is not a commercial transaction for us. Our decision is driven by desire to support development of the retail market in Ukraine, attract foreign investments to the country and create competition, which is, we believe, will be favorable for everyone. The Ukrainian retail market is poorly structured. It does not develop practically in comparison to retail markets in neighborhood countries. Today the Ukrainian Retail Association unites key players of the retail market and possesses a great impact on the market itself as well as on communication with the state authorities. Entering the Association, we make our contribution to financial resources, bring our experience and expertise that will give an impulse to the Association development and expand the activities in the areas of intelligence and education, promotion of medium-sized businesses and protection of retailers interest", said Vladimir Tymochko, Managing director of Dragon Capital.
"Ukraine’s retail market is not consolidated enough. Until now, many of his directions were not structured and good organized. We are pleased that now, together with Dragon Capital will help the retail market to develop. We have ambitious plans for development: starting with creation of a training school for retailers and development of our specialized media, we will continue with formation of the analytical framework to provide high-quality market forecasts to foreign investors, as well as help retailers protect their interests and work with government agencies and potential investors. Support of such an experienced player in the field of private equity and financial services will help to build a quality framework for of the whole retail market in Ukraine", commented on the transaction co-founder of the Ukrainian Retail Association Alexander Fialka.
The Ukrainian Retail Association was established in April 2013 to promote the development of retail business, affect the lease market, organize cooperation, protect the interests of its members in the eyes of government as well as education of market players through the debates, seminars, conferences, etc. Now the members of the Association in Ukraine count more than 60 brands and about 200-250 representatives of the brands are involved in the activities of the Association.
In 2015, approximately 1,000 key executives and middle managers of retail sector companies have been involved in the work of The Ukrainian Retail Association. In March, the Association invited Nina Mishchenko a well-known journalist and ex-deputy chief editor of the magazine «Forbes Ukraine» to redevelop the Association’s website and turn it to a powerful retail media.