With this opening, Lenta expands its hypermarket network in the Volga Region to 18 stores in 14 cities
St-Petersburg, Russia; 27 November, 2014– Lenta, (LSE, MOEX: LNTA) one of the largest retail chains in Russia, is pleased to announce the opening of its first hypermarket in Almetyevsk, the Republic of Tatarstan.
The new store is a Lenta compact format hypermarket located in Almetyevsk, 132 Lenin Street. The store has a total area of 8,932 sq.m, with 4,681 sq.m of selling space and is open from 8 am to 12 pm, seven days a week. A broad product assortment of 19,900 SKUs has been selected specifically for residents of Almetyevsk and includes Lenta’s private label and federal product ranges alongside local produce. The store has 500 parking spaces and 29 cash registers. The property is owned by Lenta.
Jan Dunning, Chief Executive Officer of Lenta, said:
“We are delighted to be expanding our presence in Tatartstan with our third store in the Republic, following the opening of stores in Naberezhniye Chelny in 2008 and Nizhnekamsk earlier this year. Lenta’s unique and differentiated format, which combines the best qualities of hypermarket, cash & carry, and discount formats, will thrive both in Tatarstan and the broader Volga Region, key areas for the future development of Lenta stores ".
The opening of this hypermarket in Almetyevsk brings the total number of Lenta stores to 89 hypermarkets in 51 cities across Russia and 18 supermarkets in the Moscow region.
Lenta is one of the largest retail chains in Russia and the country’s second largest hypermarket chain (in terms of 2013 sales). The Company was founded in 1993 in St. Petersburg. Lenta operates 89 hypermarkets in 51 cities across Russia and 18 supermarkets in Moscow and the Moscow region, with a total of approximately 581,123 sq.m. of selling space. The average Lenta hypermarket store has selling space of approximately 6,400 sq.m. The Company operates four hypermarket 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 27,800 people as of 31 December 2013.
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, the European Bank for Reconstruction and Development and VTB Capital Private Equity, all of whom 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 can be seen here.
For further information please visit www.lentainvestor.com, or contact:
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