Saint-Petersburg, Russia, 2017-Nov-16 — /EPR Retail News/ — Lenta (LSE, MOEX: LNTA), one of the largest retail chains in Russia, announces the launch of five new hypermarkets in Moscow. The stores open on premises previously operated under the NASH hypermarkets brand, as part of the long-term lease agreement signed in July.
The new standard and compact hypermarkets were opened on Yaroslavskoye Highway, Orekhovyi Boulevard, Dmitrovskoye Highway, Reutov, and Govorovo following a complete renovation and comprehensive internal refurbishment of the premises. The product mix on offer is tailored to the needs of Moscow residents and features between 20,000 and 28,500 SKUs. As is traditional for Lenta, along with nationally supplied products and private labels, the stores also offer wide assortment of local produce. To ensure customers’ convenience, the stores are complete with parking areas, a larger number of checkouts, and self-checkout points. The hypermarkets are open 24 hours a day, seven days a week.
Lenta’s Chief Executive Officer Jan Dunning said:
“Despite entering the Moscow market later than our competitors, we are rapidly expanding our footprint here. Lenta opened its first store in Moscow in 2013, and ended that year with 10 supermarkets and one hypermarket in full operation. Currently, our presence in Moscow is comprised of 21 hypermarkets and 39 supermarkets. Moving forward, we plan to open four more hypermarkets before the end of the year, almost doubling our market presence in Moscow’s hypermarket segment. By the end of 2017, Lenta will become the second largest player in the Moscow hypermarket space.”
The newly opened stores bring the Lenta chain to 214 hypermarkets in 79 Russian cities, and 70 supermarkets in Moscow, St. Petersburg, Novosibirsk, Yekaterinburg, and the Central Region.
Lenta is the largest hypermarket chain in Russia and the country’s fourth largest retail chain. The Company was founded in 1993 in St. Petersburg. Lenta operates 214 hypermarkets in 79 cities across Russia and 70 supermarkets in Moscow, St. Petersburg, Novosibirsk, Yekaterinburg and the Central region with a total of approximately 1,281,595 sq.m of selling space.
The average Lenta hypermarket store has selling space of approximately 5,700 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 40,400 people as of 30 June 20171.
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.
Anton Karpov & Victoria Afonina
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