Report: SLV Grp can create new brand to replace Euroset in year

MOSCOW, Aug 28 (PRIME) -- SLV Group, major owner of Russia’s combined retailer Svyaznoy-Euroset, can launch a new brand to replace Euroset in a year, business daily Vedomosti reported late on Monday, citing the seller’s General Director Alexander Malis.

“We’re still thinking what this brand will look like,” Malis told Vedomosti.

Svyaznoy-Euroset now counts over 5,000 stores. Its revenue is expected at 150–160 billion rubles in 2018, including 5% contributed by operators for subscribing new clients.

The retailers accomplished the merger in May. SLV Group owns 75% minus one share of the combined company, and mobile operator MegaFon has 25% plus one share.

(67.3963 rubles – U.S. $1)

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