December 13, 2017

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Safmar Group reshapes Russian consumer tech retail

by Stuart Wilson, Tuesday 30 May 2017

Mikhail Gutseriev, founder of Safmar
Mikhail Gutseriev, founder of Safmar

The Russian retail channel has undergone significant consolidation in recent months. Safmar Group announced the completion of its acquisition of 100% of the investment company previously owned by Alexander Tynkovan and his partners, which, in turn, owned 57.7% of M.video, at the end of April. Safmar Retail will now become the management company for retail chains M.video and Eldorado, as well as a new online marketplace project called goods.ru.

Alexander Tynkovan, founder of M.video, commented: "My partners and I are fully satisfied with the results of this transaction. I believe in the future of the newly united company and I look forward to taking part in its management together with the new shareholders."

Mikhail Gutseriev, founder of Safmar, commented: "By managing such strong brands as M.video and Eldorado, Safmar Retail will become a leading player in the Russian non-food retail sector with excellent prospects for further sustainable growth.”

Gutseriev added: “Thanks to the synergies and deep professional expertise, our new company can strive for and achieve even the most ambitious tasks. We are grateful to Alexander Tynkovan and Pavel Breev for their support while this deal was in the works and we are excited by the opportunity to continue to work with them in their new capacity."

M.Video runs 399 brand name stores in 165 Russian cities as of 31 March 2017. The combined selling space of M.Video stands at 664000 square metres.

Safmar Retail will continue to develop the M.video and Eldorado chains as separate businesses, retaining the management team at each. Safmar Retail stated: “In the course of 2017, the shareholders and management of Safmar Retail will analyse potential options for consolidating the two businesses and begin developing an integration plan to achieve optimal synergy between the businesses.”

Alexander Tynkovan and Pavel Breev have become partners in Safmar Group by purchasing a 20% stake of the equity capital of the new marketplace project at nominal value.

Safmar Group is one of the largest Russian multi-sector conglomerates, founded by Mikhail Gutseriev in 1992.

DISTREE Russia 2017

We are pleased to confirm that Channel EMEA is an official Media Partner for all DISTREE events in 2017, including DISTREE Russia. DISTREE Russia will return to Moscow in 2017. The country’s leading technology channel event will once again offer technology suppliers access to Russia leading retailers, e-tailers and resellers in one place at one time. DISTREE Russia will take place at Hotel Yahonty (www.yahonty.ru) in Moscow on the 21-23rd June 2017.

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