Globus Gourmet

“Spar Retail” has problems

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Victor Balashov, director of “Spar Retail” (retail chain Spar), leaves the company after eight months of work. According to the market experts, Mr. Balashov has difference in opinion with major shareholder of the chain – Alexander Mamut’s Fund A & NN Capital Management. Industry experts estimate the state of the “Spar Retail” as critical and recommend to declare bankrupt. Alexander Mamut owns 61% of  “Spar Retail” (through A & NN Capital Management Fund), Russian Retail Growth Fund owns 36%, and Dmitry Maslov, ex-CEO of the company, has 3%.

Now there are 24 Spar stores. The main idea was to create an ideal supermarket for upper middle class, supermarkets were to occupy a vacant palce between the “Perekrestok” format and premium networks “Azbuka Vkusa” and “Globus Gourmet”. But the idea failed. According to some market analysts, although the revenue of the chain is 6.3 billion rubles, «Spar Retail» does not cost more than 2 billion rubles, without considering its debts, which are about 6 billion rubles.

Source: www.retailer.ru

“Globus Gourmet” to Conquer European Capitals

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Premium-class food retailer Globus Gourmet has changed its expansion course in the most dramatic way. Instead of opening 15 new supermarkets in Russian cities with population exceeding 1 mln, the company decided to open 7 supermarkets in European capitals. The start of the new expansion programme, is supposed to be in London, where the company is planning to open a supermarket with total area 1.500 sq m and investment volume up to £ 4 mln. European expansion will cost at least USD 40 mln. European base rents are reported to be lower than in Moscow, whereas the consumer traffic is a little bit higher.

Source: www.retail.ru

As Economy Recovers Premium-Class Retail Chains Open New Stores

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Premium-class food store chain “Globus Gourmet” is planning to open four new stores in Moscow and St. Petersburg after having frozen the expansion program during the crisis. At the moment the chain operates seven stores: one in St. Petersburg and the rest – in Moscow. Investment in the new openings may reach RUR 600m. The retailer’s recovery is due to the significant increase of the average basket and customer traffic (2010 they grew by 10%). Other premium-class chains have also noticed this trend: “Azbuka Vkusa” and “Sedmoy Kontinent” are also opening new stores.

Source: www.foodnewsweek.ru