Fix Price Group PLC (FIXP)
Fix Price Group PLC: Fix Price opens stores in Armenia
17-May-2023 / 08:00 MSK
FIX PRICE OPENS STORES IN ARMENIA The Company has opened its first store in Yerevan, the country's capital 17 May 2023 – Fix Price announces its entry into the Armenian market with its first store opened in Yerevan. Armenia has become the ninth country where Fix Price is present. Earlier on, Fix Price brand started operating in Mongolia in January 2023. Now Armenia joined the chain’s franchise programme. The store in Yerevan offers 1,700 SKUs in 11 price categories ranging from AMD 399 to AMD 2,499. Products will be delivered by road from the Company’s distribution centre in Krasnodar. “The common customs area and similar consumer preferences make Armenia an attractive market for Fix Price brand expansion, while our business model is easily scalable to new countries, which results in highly efficient store openings. With the first store opened in Armenia, we look forward to expanding further and expect the second store in Yerevan to become operational in the coming month.” Vladimir Pogonin, Store Management Director at Fix Price |
As of 15 May 2023, Fix Price has a total of 653 franchise stores operating across its footprint (Russia, Belarus, Kazakhstan, Latvia, Georgia, Kyrgyzstan, Uzbekistan, Mongolia, Armenia), while the entire chain includes 5,920 stores.
About the Company Fix Price (LSE and MOEX: FIXP), one of the leading variety value retailers globally and the largest in Russia, has been helping its customers save money every day since 2007. Fix Price offers its customers a unique and constantly refreshed product assortment of non-food goods, personal care and household products and food items at low fixed price points. As of 31 March 2023, Fix Price was operating 5,848 stores in Russia and neighbouring countries, all of them stocking approximately 2,000 SKUs across around 20 product categories. As well as its own private brands, Fix Price sells products from leading global names and smaller local suppliers. As of 31 March 2023, the Company was operating 11 distribution centres (DCs) covering 80 regions of Russia and 7 neighbouring countries. In 2022, the Company recorded revenue of RUB 277.6 billion, EBITDA of RUB 54.2 billion and net profit of RUB 21.4 billion, in accordance with IFRS. | Contacts | Fix Price Investor Relations | Fix Price Media Relations | Elena Mironova ir@fix-price.com | Ekaterina Goncharova pr@fix-price.com |
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