Russia's Magnit Eyes Expansion At Thousands Of Post Offices
Russia's second-biggest food retailer Magnit plans to expand its reach by opening shops in thousands of Russian Post offices, eyeing efficiency gains from sharing transport infrastructure, Magnit's chief executive told Reuters.
Magnit announced plans to cooperate with Russian Post, a state-run postal operator which has 42,000 branches across the country, in February. On Thursday, the company said the first stores would open at the end of June.
CEO Khachatur Pombukhchan said Magnit could potentially open several thousand stores in post offices a year if the pilot project succeeds.
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