Russian variety discount chain Fix Price has opened the first two stores in mongolia's capital, Ulaanbaatar. The stores which carry about 1,100 SKUs were opened according to the franchising scheme. The goods will be delivered from the DC in Novosibirsk, which is approx. 2,700 km away from Ulaanbaatar.
"Plans for further expansion of the network in Mongolia will be adopted on the basis of an analysis of the first results of work," said Vladimir Pogonin, director of the Fix Price store management department.
Mongolia has become for Fix Price the eighth country in which the chain's stores operate. Directly or through the franchise model, the retailer is represented in Kazakhstan, Belarus, Latvia, Georgia, Uzbekistan and Kyrgyzstan.
Earlier it was reported that Fix Price plans to develop in the market of the United Arab Emirates. The company posted on Headhunter vacancies of managers, logistics specialists and the head of the retail sales department, who will develop the UAE stores.
Then Fix Price reported that they always consider options for development, but did not provide a comment on entering a new market. Fix Price manages more than 5450 stores and 10 distribution centers. In 2021, the company recorded revenue of RUB 230.5 billion, EBITDA of RUB 44.2 billion and net profit of RUB 21.4 billion, in accordance with IFRS.
Source: Retail.ru, Yahoo.com
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