With this opening, Lenta expands its network in Siberia to 23 hypermarkets in 10 cities.
St-Petersburg, Russia; 29 December, 2014 – Lenta,(LSE, MOEX: LNTA) one of the largest retail chains in Russia, is pleased to announce the opening of its seventh hypermarket in Novosibirsk.
The new store is a Lenta standard format hypermarket located at 4/14 Berdskoye Highway, Novosibirsk. The store has a total area of 12,100 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 27,000 SKUs has been selected specifically for residents of Novosibirsk and includes Lenta’s private label and federal product ranges alongside local produce. The store has 540 parking spaces and 41 cash registers. The property is owned by Lenta.
Jan Dunning, Chief Executive Officer of Lenta, said:
“The opening of our seventh store in Novosibirsk reflects the importance of Siberia for the growth of our business and of Novosibirsk, the region’s largest city. We opened our first hypermarket in Novosibirsk in 2006 and have steadily opened more stores since then, including two new hypermarkets in the city during 2014.
We are convinced the popularity of Lenta’s offering in the region is due to our unique formula which combines 24/7 access with a broad assortment of quality goods at attractive prices. Lenta remains committed to working with local suppliers to bring our customers the products they want while contributing to the development of the regional economy.”
This latest opening in Novosibirsk is Lenta’s 30th hypermarket opening in 2014 and brings the total number of Lenta stores to 107 hypermarkets in 60 cities across Russia and 24 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 107 hypermarkets in 60 cities across Russia and 24 supermarkets in Moscow and the Moscow region, with a total of approximately 696,550 sq.m of selling space. The average Lenta hypermarket store has selling space of 6,200 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
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