Fix Price Group PLC (FIXP)
Fix Price Group PLC: Fix Price starts operating in Mongolia
18-Jan-2023 / 10:00 MSK
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Fix Price starts operating in Mongolia
The Company opened its first two stores in Mongolia’s capital Ulaanbaatar
18 January 2023 – Fix Price, one of the leading variety value retailers globally and the largest in Russia, has entered the Mongolian market this January. The first two Fix Price stores opened in Mongolia’s capital city, Ulaanbaatar, on 13th and 14th of January as part of the chain’s franchise programme.
The selling space of each store is about 250 sq m. The first store is located at 37, Moskva street, while the second one is located at 36, Ard Ayush prospekt. Both stores have a product offering of more than 1,100 SKUs.
Products will be delivered to Fix Price stores in Mongolia by our franchise partner and shipped by trucks from the distribution centre in Novosibirsk.
“Mongolia has become the eighth country where Fix Price stores operate. We hope that Mongolian customers will appreciate the range of products and low prices offered by Fix Price, and we will see more store openings soon. The Company will consider further expansion in the country based on the first performance results”.
Vladimir Pogonin, Store Management Director at Fix Price
As of mid-January, Fix Price has a total of 626 franchised stores operating across its footprint (Russia, Belarus, Kazakhstan, Latvia, Georgia, Kyrgyzstan, Uzbekistan and Mongolia).
Last year, Fix Price was named the most profitable and valuable franchise (in the category with a minimum entry cost of RUB 5 million), according to a ranking compiled by Forbes Russia.
About the Company
Fix Price (LSE and MOEX: FIXP), one of the leading variety value retailers globally and the largest in Russia, has helped its customers save money every day since 2007. Fix Price offers shoppers a unique and constantly refreshed product assortment of non-food goods, personal care and household products and food items at low fixed price points.
As of 30 September 2022, Fix Price was operating 5,462 stores in Russia and neighbouring countries, all of them stocking approximately 2,000 SKUs across around 20 product categories. As well as its own private brands, Fix Price sells products from leading global names and smaller local suppliers. As of 30 September 2022, the Company was operating 10 DCs covering 80 regions of Russia and 6 neighbouring countries.
In 2021, the Company recorded revenue of RUB 230.5 billion, EBITDA of RUB 44.2 billion and net profit of RUB 21.4 billion, in accordance with IFRS.
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