The World: Moscow - Optimum Media OMD secures Stockmann business

Stockmann, the Finland-based retail group, has appointed Optimum Media OMD to handle media planning and buying for its department stores in Russia after a five-way pitch.

Rapp Collins handles the creative assignment on the Stockmann stores, the first of which was opened in Moscow in 1989, during the last days of the Soviet regime.

Stockmann is looking to build on Russia's vigorous growth and aims to have at least one-third of its sales coming from the Russian and Baltic markets by 2008. Russia's removal of the 5 per cent sales tax and its lowering of VAT are expected to boost retail business.