The last hypermarket of the Karusel network closed in Russia
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Russian retailer X5 Retail Group (owns Perekrestok, Pyaterochka, Chizhik) in February 2023 closed the last hypermarket of the Karusel chain. About it in an interview RBC told group president Ekaterina Lobacheva.
It is specified that the last store of the network was in Belgorod. At the final stage, he even showed a positive EBITDA, which indicates the effective alignment of the process of closing Karusel, Lobacheva added.
According to her, the decision to close the network was made in 2021. The reason for this was changes in consumer behavior. Lobacheva noted that over the past 3-5 years, the buyer has gone through several changes, the main of which is the “reasonableness of choice” and the flow of the audience to online retailers. As a result, purchases for the future began to partially move to the Internet, from large-format traditional trade.
The first store of the Karusel chain was opened in St. Petersburg in 2004, its founders were entrepreneurs Andrey Rogachev, Alexander Girda, Tatyana Franus and Igor Vidyaev. In 2008, X5 Retail Group (formerly X5 Group) exercised an option to purchase Karusel. The total amount of the transaction was about $940 million (about 23.4 billion rubles at the average dollar/ruble exchange rate in 2008). In 2019, the transformation of Karusel began. By that time, there were 91 chain stores in Russia, some of which were transferred to Perekrestok, and some were closed. As a result, 37 outlets remained under the Karusel brand, and the company considered the possibility of changing their positioning. However, in the summer of 2021, X5 Retail Group allowed the closure of the hypermarket chain.
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