Economics
As Investors Flee, Russia Inc. Is Feeling the Pain
Investors flee and stocks dive as Putin confronts the West
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Want to know how President Vladimir Putin’s showdown with the West is affecting Russian business? Ask retailer Detsky Mir.
Detsky Mir (Children’s World), which started as a Soviet-style department store across from KGB headquarters in Moscow, rode demand from a growing middle class over the past two decades to become a $1.1 billion-a-year company. It now has more than 200 stores selling children’s clothing and toys in dozens of Russian cities. Last fall it announced plans for an initial public offering on the London Stock Exchange early in 2014.