Russia's X5 Retail Group has announced plans to open 21 Perekrestok stores in the Ural and Volga regions, adding about 33,000 square metres of selling space to its network.
The company will open 15 stores in the Sverdlovsk region, three in Tyumen, two in Bashkortostan, and one in the Khanty-Mansi autonomous district.
The new stores will double Perekrestok’s selling space in the Sverdlovsk region, the retailer added.
Long-Term Lease
The retail group will acquire long-term lease rights for 21 retail properties in both regions from the Rait retail chain.
It aims to complete the integration of these properties to Perekrestok supermarkets by the end of August 2020.
The collaboration with Rait is in line with X5’s growth strategy, which combines organic growth with tactical M&A, X5 said in its statement.
New Opportunities
The retailer’s expansion in the Ural and the Volga regions will promote local economies by offering new opportunities for local producers. It will also give citizens access to new jobs and modern retail services.
The new stores in both regions will be covered by distribution centres located in Yekaterinburg and Samara, the retail group added.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
