Russia’s O’Key Consolidates Presence In Central Russia
Russian retailer O’Key Group has expanded its network in central Russia by acquiring a Karusel hypermarket in Moscow in Ozernaya Street.
The group has concluded an agreement with X5 Group, which includes a 25,000 square-metre plot of land and a 9,800 square-metre store.
The acquisition will take the total number of O’Key stores in Russia’s Central Federal District to 18 and the total selling space to more than 115,000 square metres.
Commenting on the acquisition, Armin Burger, CEO of O’Key Group, stated, “This deal has strengthened our presence in the Moscow metropolitan area, a region which is both strategically important and highly promising for us, given the advantageous market conditions it provides for the development of our hypermarkets.”
O’Key will open a hypermarket featuring a new layout at the acquired location, which aligns with the concept the company has been implementing since the autumn of 2020.
The retailer’s renovated hypermarkets offer an improved product display, which allows customers to find goods more efficiently.
The new layout will focus on promoting the most in-demand fresh and ultra-fresh goods, as well as fruits and vegetables.
The retailer will also roll out modern digital solutions, a café area, and an optimised non-food section with new, attractive displays and promo stalls.
Focus On Hypermarkets
The group’s primary focus area is the O’Key hypermarket format, which offers a wide range of goods, competitive prices, and outstanding customer service.
Burger said that the current transformation of O’Key’s business would allow the company to strengthen its market position and support its long-term growth.
“As we have already mentioned, the new hypermarket concept is being implemented stepwise, and we plan to have 4–5 refurbished stores in our portfolio by the end of 2021,” he added.