Press-releases
24|04|2008

EastOne and MOSMART create the biggest retail chain in Ukraine

An international investment advisory group EastOne (London-Kyiv) on behalf of its investors and Russian multiformat retail network MOSMART have concluded a deal on strategic partnership. The purpose of the deal is to create a national multiformat food and consumer goods retail network. The chain will include about 50 megastores and about 500 minimarkets with an intention to become a retail leader in Ukraine. By the end of 2012, partners are planning to invest about $300 million into the chain development. MOSMART will be running the day-to-day operations of the network. The joint enterprise created within the strategic partnership framework has already started its work. The priority direction for the enterprise development is to operate on the rented retail space as an anchor tenant.

Eric Blondo, Chief Executive of MOSMART said:
«The Ukrainian retail market has a greate potential for development. Strategic partnership with Ukrainian investors gives us opportunity of high dynamic development and achieving the sales goal. By the end of 2008, we plan to open the first 10 000 sq.m megastore. Ukrainian consumers will appreciate the advantages of our business-models. The first one offers a wide range (50 000 items) of low-price products in all price segments. The second model envisages development of a chain of the convenient, next-door markets with the competitive advantages of low prices, always fresh products and high quality service. We are certain that our multi-format approach will be the main factor for the fast and successful development of the project, which we realise with EastOne.

Gennady Gazin, Chief Executive Officer of the EastOne Group:
«The retail trade is the most fast-growing business segment in Ukraine. We aim to create a leader in this market sector and we want to do this very fast. Technologies and experience of the Mosmart Group — one of the leaders on the Russian retail market- allows us to forecast fast achievement of our goal.

 
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