RUSSIA: X5 Opens Store Number 8,500

Despite the difficult trading conditions in the market, X5 Retail has re-affirmed its commitment to continue growing its business in Russia after the opening of 8,500th outlet.

The latest milestone store is a Perekrestok in Moscow, with net selling space of over 2,000 sq. m. and 13,000 SKUs on offer. It follows the new Perekrestok concept launched in summer 2014.

To celebrate the opening of the 8,500th store, X5 also opened another 13 Pyaterochkas in Moscow, St. Petersburg, Yekaterinburg, Kazan, Rostov-on-Don, Cheboksary, Yaroslavl, Ryazan, Lipetsk, Novosibirsk, Chelyabinsk, Perm, and Samara. This meant it opened 14 stores in one day, which the group said equals the number of “eight-thousanders,” the world’s 14 highest mountain peaks that are all over 8,000 metres high.

In addition to X5 Retail Group CEO Igor Shekhterman, the CEOs of the Perekrestok and Pyaterochka retail chains Vladimir Sorokin and Olga Naumova, the opening ceremonies were attended by renowned climbers who have conquered one or several eight-thousanders.

X5 CEO Igor Shekhterman commented: “We were inspired by the climbers, their commitment and readiness to reach new heights. For X5, new heights means new stores being opened throughout the country to grant local communities access to a broad range of high-quality products. X5’s multi-format model ensures that the company keeps evolving and moving upwards, even in the most challenging times.”