With this opening, Lenta expands its network in Siberia to 21 hypermarkets in 10 cities.
St-Petersburg, Russia; 12 December, 2014– Lenta, (LSE, MOEX: LNTA) one of the largest retail chains in Russia, is pleased to announce the opening of its fourth hypermarket in Novokuznetsk.
The new store is a Lenta compact format hypermarket located in the “Polyana” shopping mall at 17/4 Kuibyshev Street, Novokuznetsk. The store has a total area of 9,160 sq.m, with 4,583 sq.m of selling space and is open 24 hours a day, seven days a week. A broad product assortment of 17,000 SKUs has been selected specifically for residents of Novokuznetsk and includes Lenta’s private label and federal product ranges alongside local produce. The store has 220 parking spaces and 28 cash registers. The property is leased by Lenta.
Lenta’s Chief Executive Officer, Jan Dunning said:
“The opening of four hypermarkets in Novokuznetsk over the past 12 months is a clear indication of the city’s strategic importance for Lenta. Our stores will make an important contribution to the economic development of the city, and consumers in Novokuznetsk will benefit from a broad assortment of quality products at attractive prices. As Lenta looks to develop its long-term growth prospects in the region, we are committed to developing our business sustainably and as a responsible corporate citizen. Part of this commitment includes strengthening ties with local partners and providing additional impetus for local manufacturers by expanding their distribution market.
We remain very much on track to open 24 hypermarkets and 15 supermarkets in 2014, and we maintain our long-term target to double net selling space over the three years to December 2016.”
This latest opening in Novokuznetsk is Lenta’s 21st hypermarket opening in 2014 and brings the total number of Lenta stores to 98 hypermarkets in 56 cities across Russia and 21 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 98 hypermarkets in 56 cities across Russia and 21 supermarkets in Moscow and the Moscow region, with a total of approximately 635,309 sq.m of selling space. The average Lenta hypermarket store has selling space of approximately 6,300 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 and its Big Data initiative can be seen here.
For further information please visit www.lentainvestor.com, or contact:
Public Relations & Government Affairs Director
Tel: +7 812 363 28 53
Yana Mogileva, PR Manager
Ňel:+7 (812) 336 39 97
Mark Walter and Tony Friend
Ňel:+44 (0)20 7457 2020
Ňel:+7 495 660 05 91