St. Petersburg, Russia, 2017-Feb-22 — /EPR Retail News/ — Lenta, (LSE, MOEX: LNTA) one of the largest retail chains in Russia, is pleased to announce the opening of its first supermarket in Novosibirsk.
The new store is a Lenta large format supermarket located in Amsterdam shopping centre at 4/1 Geodezicheskaya str., Novosibirsk. The store has a total area of 1,577 sq.m with 959 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 6,900 SKUs has been selected specifically for residents of Novosibirsk and includes Lenta’s private labels and federal product ranges alongside local produce. The store has 8 cash registers. The property is owned by Lenta.
This opening in Novosibirsk is Lenta’s first supermarket opening in 2017 and brings the total number of Lenta stores to 193 hypermarkets in 78 cities across Russia and 50 supermarkets in Moscow, St. Petersburg, Novosibirsk and the Central region.
Lenta’s Chief Executive Officer, Jan Dunning said:
“Our choice of Novosibirsk to launch our first supermarket outside Moscow and St. Petersburg was well justified. Novosibirsk is where Lenta opened its first hypermarket outside St Petersburg back in 2006. Today we successfully operate seven Lenta hypermarkets in Novosibirsk, enjoying high brand recognition and loyalty among city residents. We see significant growth potential in the Novosibirsk market and plan to open several more supermarkets in the city before the end of the year. These new supermarket launches will further strengthen our position in the region and set the stage for our rapid expansion of this format into other cities across Russia’.”
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 193 hypermarkets in 78 cities across Russia and 50 supermarkets in Moscow, St. Petersburg, Novosibirsk and the Central region with a total of approximately 1,156,885 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 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 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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