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Magnit opens first cosmetics store in Uzbekistan

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MAGNIT PJSC (MGNT)
Magnit opens first cosmetics store in Uzbekistan
26-Apr-2022 / 12:20 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

 

 

Magnit Opens First Cosmetics Store in Uzbekistan

Krasnodar, Russia (April 26, 2022): Magnit PJSC (MOEX and LSE: MGNT; the Company, Magnit), one of Russia's leading retailers, announced the opening of MCosmetic - a drogerie store offering beauty and health products - in Uzbekistan. The outlet became the first one the Company opened outside Russia. The store is located within walking distance for the customers at 1 Obihayot St. in Tashkent. In the nearest future, the Company plans to open several more stores, expanding to Chirchik as well.

MCosmetic stores sell non-food fast-moving consumer goods including makeup and skincare products, perfumes, household chemicals, personal hygiene products, as well as products for children, home, and pets. The concept of Uzbekistan stores is based on the best practices of the Magnit Cosmetic format in Russia, the largest drogerie chain in the Russian Federation with more than 7 thousand stores.

MCosmetic is built around the idea of customers taking care of themselves, their loved ones, and their home. The exterior and interior of the stores are decorated in bright pink colors, and the selling floor has accent lighting, all of which creates a pleasant and inviting ambience for shopping. All communication (signs, signposts, promotional materials) is made in both Uzbek and Russian. The average sales area of a store is 230 sq. m. The assortment spans 7,000-8,000 items, including well-known Uzbek, global, and Russian brands that cater to the needs of customers with different income levels. The majority of the assortment is focused on Care and Hygiene (40%), Manufactured Goods (24%), Makeup (16%), and Household Chemicals (10%) categories. Magnit's experts built the assortment matrix in a way that accounts for the local needs of the residents of Uzbekistan: the Baby Food category was added, and separate racks with eco-friendly hypoallergenic household chemicals were installed.

Uzbek goods - household chemicals, hygiene products, textiles, and other articles under more than 15 popular brands - are highlighted in MCosmetic with special signs. The Company's exclusive private labels make up 10% of the assortment and are represented by products such as Stellary, Beauty Bomb, KuMiHo, Gardenica, and others. The assortment will be updated constantly in accordance with customer preferences.

The Company plans to create a special loyalty program for MCosmetic's customers that will have additional special deals for holders of the store's card.

«

Andrey Bodrov Magnit's Strategy and Investment Director

»

 

"We are happy to open an MCosmetic store in Uzbekistan and offer the residents a game-changing shopping experience. In our store, we tried to create a place dedicated to family and care, a destination where everyone can buy everything they need for their loved ones. We see great potential for development of the Uzbekistan market in the drogerie segment and will carefully analyze the consumer response and performance of newly opened stores. I am sure that our expertise and successful experience in developing the Magnit Cosmetic format in Russia will enable us to create a store format that is truly interesting and useful for the residents of Uzbekistan."

 

 

 

 

For further information, please contact:

 

Media Inquiries                   

press@magnit.ru                   

 

 

 

 

 

Note to editors

 

"Magnit" is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of December 31, 2021, Magnit operated 45 distribution centers and 26,077 stores in 3,898 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS 16 results for FY 2021, Magnit had revenues of RUB 1,856.1 billion and an EBITDA of RUB 214.2 billion. Magnit's local shares are traded on the Moscow Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT).

 


ISIN:

US55953Q2021

Category Code:

MSCU

TIDM:

MGNT

LEI Code:

2534009KKPTVL99W2Y12

OAM Categories:

3.1. Additional regulated information required to be disclosed under the laws of a Member State

Sequence No.:

157717

EQS News ID:

1335585


 

End of Announcement

EQS News Service

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