Magnet Master

History

2021: Magnit's entry into the market for home goods and repairs

March 22, 2021 it became known about the upcoming entry of Magnit into the market for home goods and repairs. Stores that will compete with Leroy Merlin will be called Magnet Master.

According to SPARK-Interfax, in March 2021, the operating company of the Magnit network - Thunder - filed several applications for registration of the Magnit Master trademarks with Rospatent. The graphic image was made by analogy with the designations of other network formats - "Magnet Cosmetic" and "Pharmacy Magnet," it depicts a hammer.

Kommersant writes that goods for repairs and houses will be sold in Magnit Master stores. The timing of the start of work of such outlets by March 22, 2021 is unknown.

Magnit enters the market for home goods and repairs

Experts interviewed by the newspaper consider it a logical step to create Magnit stores in this segment of the Russian market, estimated at 1.7 trillion rubles in 2020. In addition, the interlocutors point to the absence of a popular product in the market that would combine the formats of Leroy Merlin and Moskhoztorg.

Mikhail Burmistrov, general director of the Infoline Analytics analytical center, believes that by placing Magnit Master points next to their stores, the network could more efficiently use traffic and increase the share in customers' expenses. By the beginning of 2021, the chain had about 21.5 thousand stores throughout Russia.

According to Ms. Bolotova, "Magnet Master" with an assortment of tools, consumables, etc., can develop on an area of ​ ​ 300-500 square meters. m In his presentation, Magnit estimated the cost of opening Magnit Cosmetics at 26 thousand rubles per 1 square meters. m of useful area. Based on these figures, the cost of launching one Magnit Master point with an area of ​ ​ 300-500 square meters. m can be estimated up to 7.8-13 million rubles, the publication says.^[1]

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