About (chain of stores)

History

2023: Network Launch

On October 6, 2023, X5 Group announced the launch of the project of small format stores "About." According to Vladimir Salakhutdinov, Director of Strategy and Business Development of Kh5 Group, the approximate area of ​ ​ such points of sale will be 90-150 square meters. m

We have a small division while we call it "X5 for business," where we will test the franchise model for small stores, "he said (quoted by TASS).

X5 announced the launch of a project of small format stores "About"

Salakhutdinov stressed that by the beginning of October 2023, X5 is managed by stores of various formats: "hard" discounters "Chizhik," shops near the house "Pyaterochka" and supermarkets "Perekrestok." However, there is not a single small format store yet.

This segment, according to various estimates, is 1.5-2 trillion rubles. We, too, of course, are interested in finding a model of working with this segment, - said the top manager, speaking about the About project.

Under the management of X5 Retail Group, as of the end of June, about 22.7 thousand stores. In the second quarter of 2023, the company's revenue increased 19.2%, driven by growth in like-for-like sales and store retail space, according to an interim report.

In April 2023, X5 announced that it had closed the Carousel chain's last hypermarket in February. They decided to close this format back in 2021. The abandonment of the network is associated with a change in purchasing behavior. In particular, we are talking about shifting consumer interest towards small stores with low prices. It is assumed that the points "About" will just refer to such a segment.^[1]

Notes