Magnit, a leading Russian retailer, has announced the acquisition of a controlling stake in Azbuka Vkusa, a premium grocery chain, through its subsidiary AO Tander. Azbuka Vkusa operates 171 stores across multiple formats, primarily in Moscow and Saint Petersburg, alongside an online delivery service and catering business. The acquisition also includes five production facilities, three distribution centres, and significant warehouse infrastructure. Post-acqusition, Magnit reportedly plans to retain the Azbuka Vkusa …
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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 …
Leading Russian food retailer has posted a 13.07% increase in annual revenue to 1.07 trillion RUB ($19.0 billion), according to recently published full year results . The retailer’s gross profit increased to 295.76 billion RUB ($5.25 billion), with its margin standing at 27.52%, according to a report in European Supermarket Magazine. The retailer is said to have added a total of 1,970 stores to its portfolio during 2015, where 927 were convenience stores, 18 …
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