Russia’s X5 Retail Group has announced plans to open as many as 3,300 pharmacies in its Pyaterochka, Perekrestok, and Karusel stores by the end of 2020.
The move follows the announcement of a ten-year partnership between X5 and SIA International Ltd, a major pharmaceutical distributor.
The shareholders of SIA International are set to invest about RUB 6 billion in the roll-out.
X5 Retail Group said that the partnership “creates synergies between X5 Retail Group’s stores and the lessee, helping to boost traffic and conversion, while customers will gain access to additional services”.
“I see synergies resulting from the combination of our experience and mature dedicated logistics services, with X5 Retail Group’s rapid deployment of new stores, stable traffic, and target-audience segmentation that is fully in line with our pharmacy formats,” commented Sergey Piven, president at SIA International.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
