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Russia: Magnit plans to invest over 2 billion rubles in the development of the network in North-West

Largest retail chain in Europe (Magnit) plans to open more than 160 outlets in the North-West of Russia in 2023. The main part of the investments go to Magnit's discount banners.

About 130 out of 160 selling points of the Magnit network have been planned for in St. Petersburg and the Leningrad Region. Investments in the development of the network will amount to more than 2 billion rubles. According to the Director of the North-Western District of the Magnit retail chain, the capacity of the company's existing distribution center in Kolpino (St. Petersburg) is enough to meet the needs of the network, taking into account the stores that are being prepared for opening.

At the moment, about 2,000 Magnit outlets of various formats operate in the Northwestern Federal District, more than 1,100 of which are located in St. Petersburg and the Leningrad Region.

Magnit manages more than 26,700 stores with different banners, including 16,748 convenience stores under the name Magnit.

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