Russian jewelry brand Sokolov opened two mono-brand flagship stores abroad under franchise in Romania and Moldova, launching the development of its retail network abroad. Prior to that, the brand presented its jewelry in other countries only through partner networks.

According to the company, flagship stores opened in Shopping Mall in Chisinau, Moldova and Palas Mall in Iasi, Romania.

"Developing our franchisee network is part of our omni-channel distribution strategy. In Russia, our franchise network has 25 stores, and by the end of the year there will be more than 50. Sokolov franchises operate on an efficient, proven business model, guaranteeing the partner stable profits. The payback period for a store built according to our matrix is two years," says Artem Sokolov, managing partner of the brand.

Today Sokolov jewelry is sold through partner networks in 22 countries including Armenia, Australia, Azerbaijan, Bulgaria, Canada, Cyprus, Estonia, Georgia, Germany, Israel, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Moldova, Poland, Belarus, Romania, the United Arab Emirates, Ukraine, the United States and Uzbekistan. The brand plans to open its own flagship or franchise store in each country of presence.