Thursday, February 5
Hypermarkets: Can Domestic Players Compete?
Dominated by multinational players, but also becoming popular among domestic chains, one of the most promising and rapidly expanding formats – hypermarkets – are transforming the Russian retail scene. Supported by costly and significant investment, hypermarkets have successfully taken market share in major cities and are expanding fast into the regions. As major domestic players rush to include this format in their multi-format strategy, we question their ability to compete with multinational operators. Capex overruns have now become a trend with expansionary financing needs challenged by geared balance sheets. Still, pent up demand for this format presents a plethora of opportunities and we examine retailers’ strategies in taking their bite out of consumers’ wallets.
Sergei Galitsky, General Director, Magnit
Lev Khasis, Chief Executive Officer, Chairman of the Management Board, X5 Retail Group
Stephen Paul Ogden, Chairman of the Board of Directors, Lenta LLC
Alexander Rusnak, Finance Director, Seventh Continent