X5 opens first Pyaterochka stores in Far East in Vladivostok, seeking to launch 800 stores in district in 5-6 years

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X5 opens first Pyaterochka stores in Far East in Vladivostok, seeking to launch 800 stores in district in 5-6 years

VLADIVOSTOK. March 23 (Interfax) - X5 Retail Group opened two Pyaterochka proximity stores in Vladivostok on Thursday, the retailer's first stores in the Far Eastern Federal District, an Interfax correspondent reported from the opening ceremony.

Pyaterochka is now represented in 68 Russian regions, with the chain's first stores in Khabarovsk set to open on Friday.

In conjunction with the opening of stores in Vladivostok, the Pyaterochka Delivery service has also been launched.

Around 60 Pyaterochka stores will be opened in the Primorye Territory by the end of 2023, with a total of about 150 stores in the Far East, Anton Bezryadin, executive director of the Far East Territory division of the Pyaterochka chain, told reporters.

He added that there are plans to open about 800 Pyaterochka stores over 5-6 years in the Far East. "The plans for investment in the development of the chain in the Far Eastern Federal District are currently unchanged - 10 billion rubles," Bezryadin said.

Head of the Pyaterochka retail chain Vladislav Kurbatov said that in 2023, taking into account the Far East, there are plans to open more than 1,500 new Pyaterochka stores in Russia.

"In the Far East today our share [in the market] is 'zero'. Accordingly, it will take us six years to reach 25%. Maybe faster. By and large, with the prices we have rolled out [in the Far East], our stores should definitely please the local residents," Kurbatov said.

It was reported that X5 had signed a cooperation agreement with the Far East and Arctic Development Corporation (FEDC) in September 2022, according to which investments in creation of distribution centers and stores in the region could amount up to 10 billion rubles.

X5 is the largest retailer in Russia by revenue. As of December 31, 2022, the company operated 21,323 stores, including 19,164 Pyaterochka proximity stores, 971 Perekrestok supermarkets, 517 Chizhik hard discounters and 595 Krasny Yar and Slata stores.