St. Petersburg, Russia, 2016-Dec-29 — /EPR Retail News/ — Lenta, (LSE, MOEX: LNTA) one of the largest retail chains in Russia, is pleased to announce the opening of its 13th hypermarket in Moscow.
The new store is a Lenta standard format hypermarket located in Butovo Mall shopping center at 51 Checherskiy driveway, Moscow. The store has a total area of 13,644 sq.m with 7,836 sq.m of selling space and is open 24 hours, seven days a week. A broad product assortment of 26,000 SKUs has been selected specifically for residents of Moscow and includes Lenta’s private labels and federal product ranges alongside local produce. The store has 46 cash registers. The shopping center has 2,000 parking spaces. The property is owned by Lenta.
The opening in Moscow is Lenta’s fiftieth hypermarket opening in 2016 and brings the total number of Lenta stores to 189 hypermarkets in 77 cities across Russia and 46 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 189 hypermarkets in 77 cities across Russia and 46 supermarkets in Moscow and St. Petersburg, with a total of approximately 1,137,721 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 1,000 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 34,134 people as of 30 June 20161.
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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