St-Petersburg, Russia; 22 December, 2014– Lenta, (LSE, MOEX: LNTA) one of the largest retail chains in Russia, is pleased to announce the opening of its first hypermarket in Zheleznovodsk, Stavropol Krai.
The new store is a Lenta standard format hypermarket located at 29 Geologicheskaya Street, Inozemtsevo Village, Zheleznovodsk. The store has a total area of 12,000 sq.m, with 7,018 sq.m of selling space and is open 24 hours a day, seven days a week. A broad product assortment of approximately 28,000 SKUs has been selected specifically for residents of Zheleznovodsk and includes Lenta’s private label and federal product ranges alongside local produce. The store has 612 parking spaces and 41 cash registers. The property is owned by Lenta.
Lenta’s Chief Executive Officer, Jan Dunning said:
“The latest opening in Zheleznovodsk is our first in the Stavropol Krai of the North Caucasian federal district. New customers in Zheleznovodsk can now benefit from Lenta’s high quality product offering and attractive price proposition as we look to pass on savings generated by our efficient operations to our shoppers.
We look forward to growing our presence further in Stavropol Krai and working with local suppliers to bring customers the best local produce.”
This latest opening in Zheleznovodsk is Lenta’s 25th hypermarket opening in 2014 and brings the total number of Lenta stores to 102 hypermarkets in 60 cities across Russia and 22 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 102 hypermarkets in 60 cities across Russia and 22 supermarkets in Moscow and the Moscow region, with a total of approximately 660,358 sq.m of selling space. The average Lenta hypermarket store has selling space of 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