OJSC 'MAGNIT' (FRA:5M71) Magnit opens first cosmetics store in Uzbekistan
Transparency directive : regulatory news
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MAGNIT PJSC (MGNT)
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.
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| 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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