November 20, 2019
TJX buys stake in Russian retailer for $225M
Photo/Grant Welker
TJX's Framingham headquarters
By Thomas Grillo
TJX Cos., an off-price apparel and home fashions retailer, has invested $225 million for a non-controlling 25% ownership stake in Russian retailer Familia, the Framingham company reported Tuesday.
TJX describes Familia as Russia’s only major off-price apparel and home fashions retailer.
Familia operates more than 275 stores throughout Russia.The transaction gives TJX an opportunity to invest in an established, off-price retailer with significant growth potential in the Russian market, the company said in its third-quarter earnings report.
TJX’s said its ownership in Familia is expected to boost to its earnings per share beginning in 2021.
WBJ Web Partners
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