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MAGNIT PJSC (MGNT)
Magnit And Largest FMCG Companies Plan To Launch 'United For A Healthier Future' Initiative
15-Apr-2021 / 14:00 MSK
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Magnit and Largest FMCG Companies Plan to Launch 'United for a Healthier Future' Initiative
Krasnodar, Russia (April 15, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company), one of Russia's leading retailers, and eight of the largest international FMCG producers are joining forces to launch the 'United for a Healthier Future' Initiative. The move was announced by Jan Dunning, President and CEO of Magnit, at the RBС Conference on April 15. The Initiative will be co-chaired by Magnit, Nestlé, and Johnson & Johnson Consumer Health, with Danone, Mars Wrigley, PepsiCo, L'Oréal, Mars Petcare, and Procter & Gamble joining as regular members. Other manufacturers will also be able to join the Initiative.
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Quote author
Jan Dunning
Magnit's President and CEO
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"The main goal of the Initiative is to help people lead a healthier lifestyle and develop a sustainable approach to caring for themselves, their loved ones, and the environment. For us, a healthy lifestyle means not just having a balanced diet, but also taking proper care of ourselves, the people we love, and even our pets. Being the largest retail chain in the country, Magnit will unite the leading international FMCG producers operating in Russia and create a platform that supports consumers to take better care of their health".
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The 'United for a Healthier Future' Initiative will focus on three areas- Self Care, Community Care, and Employee Care. Within these three areas, Magnit and its partners plan to launch regular awareness- and engagement-building projects.
For example, the Initiative's educational projects will be aimed at stimulating people's interest in living a healthier lifestyle, implementing balanced diet, as well as improving awareness about how they can help to protect the environment around them through their choices. In addition, the partners will regularly conduct scientific and social studies on the topic of living a healthier lifestyle in order to identify changes in customer behavior.
The Initiative will also draw consumers' attention to healthier products. In particular, companies' joint projects will aim to increase the availability of goods with lower sugar, salt, and fat content, and support giving up smoking, as well as encouraging consumers to take care of their bodies, their homes, and their pets. The aim is to develop healthier habits by gradually increasing the share of "healthier lifestyle" products and goods in the consumer baskets.
Sustainable consumption is an important subject for the Initiative, and so promotion of eco-packaging and reduction of food waste will also be priorities for its members.
Health is a key value for Russian people. According to the GFK data, Russian citizens put health well ahead of wealth, an interesting job, and a prosperous marriage. Moreover, health has greater value for Russians than for the rest of the world, and they have started to pay even more attention to their health during the pandemic. According to the GFK research, last year, Russian people washed their hands and used sanitizers more often, and the most popular ways to maintain their health were through improved nutrition and sleep. In addition, Russians also started to take up more frequent exercise. Over the last year, more than a half of the population of the country (53%) reduced sugar consumption in order to avoid becoming overweight and to limit other health risks.
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Quote author
Lakish Hatalkar
Area Managing Director Johnson & Johnson Consumer Health for Russia, Ukraine and CIS, Co-Chair of Women's Leadership & Inclusion EMEA
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"At Johnson & Johnson Consumer Health, we take a total health approach to helping people live their healthiest lives. Our Healthy Lives Mission sets ambitious goals to deliver greater benefits for people, communities and our planet. This includes a focus on reducing preventable diseases, such as tackling smoking cessation in Russia through product innovation and programs for the more than 12 million people in the country trying to quit smoking. We are proud to be part of the important work the Consumer Goods Forum is advancing across industry, and strive to deepen and establish innovative partnerships with other companies, suppliers and retailers who share our goal to drive health forward. We believe that together we can help millions of consumers live healthier lives".
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Quote author
Martial Rolland
CEO Nestlé Russia and Eurasia
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"As the world's largest food and beverage company, Nestlé has been providing consumers with high quality nutrition for over 150 years. Based on our expertise in Nutrition, Health and Wellness, we continue our portfolio transformation to provide nutritious and great tasting products as well as services, whilst at the same time protecting the environment. By doing this we unlock the power of food to enhance quality of life for everyone, today and for generations to come. With consumers increasingly expecting companies to act as force for good, I am confident that by joining our efforts with other industry players through the 'United for a Healthier Future' initiative, we will make an even stronger positive impact on consumers, employees and society at large".
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The Initiative will be implemented under the aegis of The Consumer Goods Forum (CGF) - an international industry organization uniting more than 400 retailers, manufacturers, and service providers across 70 countries. It is a unique global platform for knowledge sharing and implementing initiatives in such strategic areas as health and well-being, sustainability, food safety and product data. Through its Collaboration for Healthier Lives global movement, the CGF empowers people in communities across the globe to live healthier lives.
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Quote author
Wai-Chan Chan
Managing Director of The Consumer Goods Forum
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"For many years, local initiatives have been working collaboratively in communities around the world to make it easier for people to adopt healthier lifestyles. The CGF is delighted to have Russia as the newest local Initiative to join this global movement, led by manufacturers, retailers, public health authorities and local communities. Their work towards driving healthier and more sustainable lives for consumers and employees, while creating shared value for communities, business and the environment, is a key step in addressing some of the most critical challenges facing the world today".
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The 'United for a Healthier Future' Initiative will be open to new partners and welcomes all stakeholders, including producers, retail chains, and scientific institutes, to share expertise and create joint projects in order to improve the quality of life of Russian people.
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Note to editors
Public Joint Stock Company "Magnit" is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of December 31, 2020, Magnit operated 38 distribution centres and 21,564 stores (14,911 convenience, 470 supermarkets and 6,183 drogerie stores) in 3,752 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the audited IFRS 16 results for FY 2020, Magnit had revenues of RUB 1,553.8 billion and an EBITDA of RUB 178.2 billion. Magnit's local shares are traded on the Moscow Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB.
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Forward-looking statements
This document contains or may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected sales growth rate and/or store openings are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. Any forward-looking statement is based on information available to Magnit as of the date of the statement. All written or oral forward-looking statements attributable to Magnit are qualified by this caution. Magnit does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances.
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