Magnit says launches hard discounter stores V1 in Moscow Region

MOSCOW, Feb 28 (PRIME) -- Magnit has launched its first three hard discounter stores under the brand V1 (Pervy Vybor – First Choice) in the Moscow Region, the company said in a statement on Tuesday.

"The company opened the first three pilot stores in the towns of Stupino, Elektrostal, and Tuchkovo in the Moscow Region. The new format is intended for rational customers of any income and represents a technologically advanced and innovative approach to retail in the Russian market," Magnit said.

The company plans to elaborate a private label, which might occupy up to 50% of the product range, the store chain extension will also be considered with the launch of up to 15 outlets planned soon.

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