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Russian retailer Magnit is reportedly planning to open a new discount supermarket chain, according to an article on the Kommersant newspaper.
Sources close to the retailer reported that the retailer plans to develop a new chain of discounters, a concept that started being planned in 2022, it is expected to be approved in Q1 2023 and afterwards the first stores will open.
The discount supermarkets have been trending in the country due to the economic fallout from the military campaign in Ukraine.
Magnit said to Reuters: “We consider discounters one of the most promising formats for development, so we will actively increase our presence in this segment”.
The retailer has been developing the Moya Tsena (My Price) discount stores since 2020 and as of December 2022 there were 700 stores open in 63 regions.
Source: Kommersant /Reuters
