X5 Group will test the operation of small-format stores “Okolo” – Kommersant
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X5 Group (MOEX: FIVE), which manages the Pyaterochka, Perekrestok and Chizhik chains, will test the operating model of small-format stores within the company’s X5 for Business division. This was announced by Vladimir Salakhutdinov, Director for Strategy and Business Development of X5 Group.
“We have a small division, for now we call it “X5 for business,” where we will test the franchise model for small stores. We plan to launch a pilot project in the coming months – we’ll see what we can do,” said Mr. Salakhutdinov during the X5 Dialog 2023 conference (quote from TASS).
The stores will be called “Okolo”. According to Vladimir Salakhutdinov, the segment of small format stores is worth 1.5–2 trillion rubles. “We are also, of course, interested in finding a model for working with this segment,” he noted. The approximate area of such stores is 90–150 square meters. m.
As of the end of June, X5 Retail Group manages about 22.7 thousand stores. According to the interim reportin the second quarter of 2023, the company’s revenue increased by 19.2% due to growth in comparable sales and store sales area.
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