17 May 2023 13:23

Fix Price enters Armenian retail market

MOSCOW. May 17 (Interfax) - Fixed price store operator Fix Price has entered the Armenian market, having opened the first outlet in Yerevan, the company said.

The company plans to develop the chain in the country. The second store should be open in the next month. Stores in Armenia have become part of the Fix Price franchise network, the report says.

Armenia is now the ninth country where Fix Price has a presence. In January 2023, Fix Price entered the Mongolian market.

As of May 15, 2023, there are 653 franchise outlets in the countries where Fix Price operates (Russia, Belarus, Kazakhstan, Latvia, Georgia, Kyrgyzstan, Uzbekistan, Mongolia, Armenia), and the chain has 5920 outlets in total.

Fix Price is the largest operator of fixed price shops in Russia. In addition, the company operates in a number of neighboring countries. In 2022, the company's IFRS revenue totaled 277.6 billion rubles; EBITDA was 54.2 billion rubles, and net profit 21.4 billion rubles.