Fix Price announces establishment of a store management department
The decision is designed to support the Company's expansion in Russia and abroad
26 November 2021 - Fix Price (LSE and MOEX: FIXP), one of the leading variety value retailers globally and the largest in Russia, announces the creation of a store management department intended to bring together the key operations of the Company focusing on Fix Price expansion in Russia and abroad. The department will have three divisions (sales, real estate and repair and maintenance) and will replace the real estate and sales departments.
The new department will be led by Vladimir Pogonin, former Real Estate Director and Acting Sales Director.
Dmitry Kirsanov, CEO of Fix Price, said:
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"Establishment of a joint store management department comes as a logical and consistent decision considering our expansion plans and focus on maintaining strong profitability. I am glad to see Vladimir Pogonin as the new department's head. I am convinced that his extensive experience and expertise in real estate management and in-depth knowledge of the retail market in Russia and abroad will help him deliver on the Company's strategic plans. I wish Vladimir a lot of success in this new role."
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Vladimir Pogonin commented:
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"I am grateful to the Company for its trust and look forward to continuing the implementation of Fix Price growth strategy to the best interest of our customers and investors. Our plan for 2022 includes opening the landmark 5,000th store in February and launching at least 750 new outlets in Russia and abroad. There is much more to do and I am certain many new accomplishments are waiting for us ahead."
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Vladimir Pogonin joined Fix Price in 2019 as Real Estate Director. His key achievements in this capacity include growth of the Company's footprint in Russia, expansion of presence in Belarus, Kazakhstan and Uzbekistan, improvement of the regional development teams' performance, and reduction of the investment period for store openings. Prior to joining Fix Price, Vladimir worked as Sales Director at the Monetka retail chain.
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 frequently updated product assortment of non-food goods, personal care and household products and food items at low fixed price points.
Today there are more than 4,700 Fix Price stores in Russia and neighbouring countries, all of them stocking approximately 1,800 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.
In 2020, the Company recorded revenue of RUB 190.1 billion, EBITDA of RUB 36.8 billion and net profit of RUB 17.6 billion, in accordance with IFRS.
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