Krasnodar, Russia (June 21, 2024): Magnit, one of Russia’s leading retailers, expanded its chain to 30,000 locations. The landmark 30,000th store was a Magnit Convenience, which opened in the city of Gelendzhik in Krasnodar Region, the Company’s home region.

Convenience stores are a key format for Magnit in terms of both store count and sales. Late last year, the Company developed a new concept for these stores that is now the standard for all newly opened outlets. The revamped stores put a greater emphasis on fresh categories, including dairy and meats, as well as fruits and vegetables. They also offer extra services such as a café space, an area to pick up online orders, and more.

As of June 21, the Magnit Convenience store chain boasts nearly 18,000 locations. Additionally, the Company operates 7,900 drogerie stores under the Magnit Cosmetic banner, 481 big-box stores (Magnit Extra superstores and Magnit Family supermarkets), over 1,200 My Price soft discounters, and more than 100 hard discounters named V1, as well as other formats currently undergoing testing.

Magnit’s retail footprint spans over 4,200 localities across seven federal districts of Russia. The majority of Magnit stores are found in towns where the population does not exceed 500,000 residents.

Magnit is Russia’s largest retailer in terms of store count. Additionally, the Company was the first to exceed the milestone of 10 million square meters of retail space.

Anna Meleshina, Magnit’s Managing Director:

“In 2024, as Magnit commemorates its 30^th anniversary, our store count has soared to a symbolical milestone of 30,000. We continue expanding our chain, enhancing our existing stores, and refining our internal processes to ensure that every day, people across our vast country have access to both high-quality food and essential non-food items at affordable prices. Even in the face of e-commerce’s swift rise, the appeal of brick-and-mortar stores endures; furthermore, they are becoming increasingly service-oriented and introduce vital new features like online order pickup. Rest assured, these evolving trends are integral to our strategy for the development of physical retail.”

Magnit started its journey in 1994, initially focusing on wholesale distribution of cosmetics and household chemicals. The Company then opened cash-and-carry grocery outlets that eventually transitioned into the convenience store format. In 2004, the retail chain reached 1,000 stores. By 2011, the Company had crossed the 5,000-store threshold, doubling that to 10,000 by 2015. As early as 2017, Magnit’s store count reached 15,000, increasing to 20,000 by 2019. In just another two years, the Company surged past the 25,000-store mark.

Magnit’s store count reaches 30,000