“Kidsburg” in Moscow is close to the Completion.

 According to the plan, this Kidsburg is supposed to be opened on December 10th of this year. The president of Russia Vladimir Putin is expected to be at the opening ceremony.  It shows how important the kid’s life is. Kidsburg in Moscow is a very significant project for our company. This is a new stage in the development for us. It is also the first project of such format that we do “on a turn-key basis”.  We also make the equipment, decoration, buy and assemble the furniture. However,the opening ceremony has been cancelled and rescheduled. According to the official documents, the whole Detskiy Mir store is going to be renovated by February 20th of the next year. I don’t think it is possible to complete the whole renovation for such a short period of time. It is very disappointing for our company because we will have more expenses. Our Kidsburg’s client will alsoget less profit.  According to the plan, the kid’s city is supposed to welcome the visitors for the New Year Holidays. These days are the most profitable in the entertainment industry. Kidsburg belongs to the entertainment sector. Our company is very sorry, but nothing depends on us in this situation.

Our company is also finishing two more Kidsburgs in St. Petersburg and Rostov-on-Don. We are currently negotiating our participation in the creation of Kidsburg in Voronezh. We hope to sign the contract in the beginning of December.  One of the problems here is that Kidsburg has to be completed by March 1st. It means that we have only 2,5 months to finish the project. Even with this tight schedule we guarantee that we will meet the deadline and the project will be qualitative.

© ТОК Corp., 2008