Magnit, the largest Russian retailer in terms of revenues, has registered an affiliate office for Tander (the chain’s operator) in Barnaul, with a plan to enter the Altay Territory market. The first of the company’s stores in the region is expected to open in September 2014.
The company had previously announced its intention to build a logistics centre in the neighbouring Novosibirsk Province, to cover the needs of nearby regions, including the Altay Territory. The construction period is 2013-2014. The amount invested in the project will be RUB 1.5bn (€33m).
Overall, at the end of 2013 Magnit was operating 7,407 grocery stores in Russia. In addition, the retail giant had 686 cosmetics stores (the Magnit Kosmetik brand).