MOSCOW, Apr 12 (PRIME) -- Russia’s X5 Retail Group and the Central Union of Consumer Societies of Russia have signed a five-year cooperation agreement under which they plan to open up to 1,000 stores under a joint brand COOP-Pyaterochka in the next three years, X5 Retail Group said in a statement.
“The parties have also agreed to open up to 5,000 Pyaterocka-based shop-in-shops departments by 2021 that will sell goods from local farmers and consumer cooperatives. The primary focus of this subleasing partnership is to create a comprehensive product and service tailored to the needs of the local customer,” the company said.
“The agreement also enables Pyaterochka to supply products from its own range to consumer cooperatives that are not part of the project, improving the availability of food and non-food products to rural residents. With the goal of optimizing logistics costs and reducing shrinkage, deliveries may take place directly to the stores or to the partners' distribution centers in the regions where Pyaterochka operates.”
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