St. Petersburg, Russia, 2016-Oct-23 — /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 Taganrog.
The new store is a Lenta compact format hypermarket located at 74A 2nd Sovetskaya str, Taganrog. The store has a total area of 7,980 sq.m with 5,225 sq.m of selling space and is open 24 hours a day, seven days a week. A broad product assortment of 19,000 SKUs has been selected specifically for residents of Taganrog and includes Lenta’s private labels and federal product ranges alongside local produce. The store has 393 parking spaces and 30 cash registers. The property is owned by Lenta.
The opening in Taganrog is Lenta’s seventeenth hypermarket opening in 2016 and brings the total number of Lenta stores to 156 hypermarkets in 72 cities across Russia and 42 supermarkets in Moscow and St. Petersburg.
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 156 hypermarkets in 72 cities across Russia and 42 supermarkets in Moscow and St. Petersburg, with a total of approximately 968,595 sq.m of selling space. The average Lenta hypermarket store has selling space of approximately 6,000 sq.m. The average Lenta supermarket store has selling space of approximately 1,000 sq.m. The Company operates six owned hypermarket 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 34,134 people as of 30 June 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.
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