Magnit obtains leasehold rights for 56 Edelweiss stores in Kazan
Krasnodar, November 26, 2021: Magnit PJSC (MOEX and LSE: MGNT; the Company, Magnit), one of Russia's leading retailers, announced it has reached an agreement for the long-term leasehold rights for the 56 stores currently operating under the Edelweiss brand in Kazan.
- Krasnodar, November 26, 2021: Magnit PJSC (MOEX and LSE: MGNT; the Company, Magnit), one of Russia's leading retailers, announced it has reached an agreement for the long-term leasehold rights for the 56 stores currently operating under the Edelweiss brand in Kazan.
- The stores are located in Kazan (the fifth largest city in Russia with approx.
- As of September 30, 2021, Magnit operated 265 stores in Kazan including 183 convenience stores, 3 supermarkets and 79 drogeries.
- The lease of former Edelweiss stores will strengthen Magnit's position in the local market and support its continued development.