Email Newsletters

TJX buys stake in Russian retailer for $225M

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.  

– Digital Partners -

Get our email newsletter

Stay up-to-date on the companies, people and issues that impact businesses in Central Massachusetts.

Close the CTA