OREANDA-NEWS. The Severo-Zapadny Bank of Sberbank has opened a 3-year revolving line of credit worth RUB 1.7 bln for Concept Group, which will be used to replenish its working capital. The deal involves attracting financing from the international market.

"Cooperation with one of the largest representatives of domestic light industry and fashion retail will help us to together develop import substitution programmes, which will ultimately have a positive impact on the Russian economy and satisfy consumer demand," commented Svetlana Sagaidak, Senior Vice-President of Sberbank.

"The Russian clothing market has additional growth prospects for efficient companies that focus on their customers. We can see this as we are one of them. Long-term financing from Sberbank will help us cement our position in the market and ensure that growth is even more stable," said Leonid Khanik, Founder and Shareholder of Concept Group.

Concept Group was founded in 2004. It designs, manufactures and sells women's clothing, accessories, linen and children's clothing. As of the end of 2015, Concept Group's retail chain included more than 300 stores in 125 Russian cities.