With this opening, Lenta expands its network in the Central region to 23 hypermarkets in 15 cities
St. Petersburg, Russia, 2017-Feb-17 — /EPR Retail News/ — Lenta, (LSE, MOEX: LNTA) one of the largest retail chains in Russia, is pleased to announce the opening of its second hypermarket in Lipetsk.
The new store is a Lenta compact format hypermarket located in Riviera shopping centre at 51 Katukova str., Lipetsk. The store has a total area of 9,363 sq.m with 5,520 sq.m of selling space and is open from 8.00 am till 11.00 pm, seven days a week. A broad product assortment of 19,000 SKUs has been selected specifically for residents of Lipetsk and includes Lenta’s private labels and federal product ranges alongside local produce. The store has 30 cash registers. The shopping centre has 2,000 parking spaces. The property is leased by Lenta.
The opening in Lipetsk is Lenta’s first hypermarket opening in 2017 and brings the total number of Lenta stores to 192 hypermarkets in 77 cities across Russia and 49 supermarkets in Moscow, St. Petersburg and the Central region.
Lenta is the largest hypermarket chain in Russia (in terms of selling space) and the country’s fifth largest retail chain (in terms of 2015 sales). The Company was founded in 1993 in St. Petersburg. Lenta operates 192 hypermarkets in 77 cities across Russia and 49 supermarkets in Moscow, St. Petersburg and the Central region with a total of approximately 1,151,668 sq.m of selling space. The average Lenta hypermarket store has selling space of approximately 5,800 sq.m. The average Lenta supermarket store has selling space of approximately 900 sq.m. The Company operates seven owned distribution centres.
The Company’s price-led hypermarket formats are differentiated in terms of their promotion and pricing strategies as well as their local product assortment. The Company employed approximately 45,689 people as of 31 December 2016 1 .
The Company’s management team combines a mix of local knowledge and international expertise coupled with extensive operational experience in Russia. Lenta’s largest shareholders include TPG Capital and the European Bank for Reconstruction and Development, both of which are committed to maintaining high standards of corporate governance. Lenta is listed on the London Stock Exchange and on the Moscow Exchange and trades under the ticker: ‘LNTA’.
A brief video summary on Lenta’s business and its Big Data initiative can be seen here.
For further information please visit www.lentainvestor.com
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Anton Karpov & Victoria Afonina
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