With this opening, Lenta expands its network in Siberia to 36 hypermarkets in 13 cities
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 second hypermarket in Irkutsk.
The new store is a Lenta supercompact format hypermarket located in Fortuna shopping center at 1 October Revolution str., Irkutsk. The store has a total area of 6,117 sq.m with 3,111 sq.m of selling space and is open from 9.00 am till 11 pm, seven days a week. A broad product assortment of 12,000 SKUs has been selected specifically for residents of Irkutsk and includes Lenta’s private labels and federal product ranges alongside local produce. The store has 300 parking spaces and 20 cash registers. The property is leased by Lenta.
The opening in Irkutsk is Lenta’s forty ninth hypermarket opening in 2016 and brings the total number of Lenta stores to 188 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 188 hypermarkets in 77 cities across Russia and 46 supermarkets in Moscow and St. Petersburg, with a total of approximately 1,129,885 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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