Magnit might launch marketplace for nonfood goods - paper

MOSCOW. May 16 (Interfax) - Magnit , one of Russia's largest food retailers, is gearing up to launch a new online marketplace that will also offer nonfood goods, business daily Vedomosti reported on Tuesday.

The retailer's main legal entity, JSC Tander posted an ad about the marketplace on social media a few days ago, saying its customers will be able to order foodstuffs, as well as household and gardening products, appliances, cosmetics, sporting goods, furniture and other products "from partners and suppliers" for delivery within three hours, the paper said.

The ad, which has since been removed, said the platform will operate under the Magnit Market brand. The retailer filed an application to register this trademark (priority in 31 of the 45 classes in the international classification of goods and services) in April.

Vedomosti reported a Magnit spokesman as saying that the retailer "is preparing a project under the name Magnit Market" and launched an ad under this brand, promising to provide details at a later date.

Magnit is Russia's largest retailer by number of stores and second largest by revenue. The company operated 26,731 stores as of the end of June 2022, including 16,748 convenience stores under the Magnit brand.