Tag Archives: retail

Kazakh businessman to sell MEGA

JUNE 1 2016 (The Conway Bulletin) — Nurlan Smagulov, one of Kazakhstan’s wealthiest businessmen, said he has found a buyer for his shopping malls in Astana and Aktobe, both under the MEGA brand. Last year, Mr Smagulov sold his MEGA shopping mall in Shymkent, in the south of the country. Mr Smagulov said proceeds from the sales will fund the growing costs for the completion of the MEGA Silk Way shopping centre in Astana.

ENDS

(News report from Issue No. 283, published on June 3 2016)

Kazakhstan’s stock lists Magnum’s bond

MAY 27 2016 (The Conway Bulletin) — KASE, Kazakhstan’s stock exchange, said it listed 10-year bonds issued by Magnum Cash & Carry, a chain of discount stores in Kazakhstan. The total issue amounted to 33b tenge (around $100m), one-third of the amount that Magnum plans to issue in the short term to finance its expansion in the country. In May 2014, Kenes Rakishev, son-in-law of Kazakhstan’s defence minister and closely-linked to the elite, bought a minority share in the company.

ENDS

(News report from Issue No. 283, published on June 3 2016)

Tashir opens new mall in Armenian capital

MAY 14 2016 (The Conway Bulletin) — Russian real estate holding Tashir Group opened a new $14m mall in Yerevan. Tashir Group, owned by Moscow-based Armenian businessman Samvel Karapetyan, has poured cash into several real estate projects in Armenia in the past few years. Last year, it bought the electricity distributor Electric Networks of Armenia from Russian state-owned Inter RAO.

ENDS

(News report from Issue No. 281, published on May 20 2016)

Les Copains opens shop in Kazakhstan

MARCH 18 2016 (The Conway Bulletin) — Italian retailer Les Copains, luxury handbags, opened its first shop in Kazakhstan. The new boutique will be located in the Esentai Mall, Almaty’s luxury shopping centre. Earlier, the company had opened shops in Moscow. Les Copains said it is looking to expand further in Asia and in the former Soviet Union.

ENDS

(News report from Issue No. 273, published on March 25 2016)

Carrefour extends its presence in Georgia

MARCH 17 2016 (The Conway Bulletin) – The EBRD said it extended a $39.5m credit line to Majid Al Futtaim, the regional franchisee of French retailer Carrefour, to extend its presence in Georgia. Carrefour already has three stores in Georgia and said it wants to open new ones. Carrefour is also present in Armenia, where it owns one store, Tajikistan and also in Kazakhstan.

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(News report from Issue No. 272, published on March 18 2016)

OBI store to open in Kazakh city

FEB. 25 2016 (The Conway Bulletin) — German DIY kit retailer OBI will build its first store in Almaty, Baurzhan Baibek, the city’s mayor told local media. Construction works will start in May and the new store will open in 2017. Kazakhstan’s DIY market is growing as more and more people follow the European trend for renovating their homes. Although an economic downturn has battered Kazakhstan it is still considered a decent market for well- known European brands open up in. Earlier this month, French retailer Auchan opened its first store.

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(News report from Issue No. 269, published on Feb. 26 2016)

Spar enters Azerbaijan

DEC. 10 2015 (The Conway Bulletin) — Dutch retailer Spar International opened its first store in Baku. The store carries the Spar branding but is operated by local company Araz. In a statement, Araz said it plans to open eight new Spar stores by the end of 2017 to add to the 23 stores it already operates. Spar is expanding its convenience store format across the world and is opening stores in Oman, Indonesia and Malawi.

ENDS

(News report from Issue No. 260, published on Dec. 11 2015)

Auchan imports Tajik products

DEC. 2 2015 (The Conway Bulletin) — The Russian branch of French retailer Auchan said it would import goods from Tajikistan, Morocco and China to make up for the decline in imports from Turkey, which will be subjected to an import ban imposed by Russia after a Turkish plane shot down a Russian fighter-jet over Syria. Auchan will open a supermarket in Dushanbe in 2016. Auchan already operates a Russia-Tajikistan distribution line.

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(News report from Issue No. 259, published on Dec. 4 2015)

EGT grows in Georgia

NOV. 9 2015 (The Conway Bulletin) — Bulgarian manufacturer Euro Games Technology reported positive growth in Georgia, where it expanded its product line to several casinos. EGT, which manufactures slot machines and roulettes, said most of its machines operate at casinos in Batumi, a resort town on theGeorgian Black Sea coast. The company said it grew its market share from 25% in 2014 to 33% this year.

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(News report from Issue No. 256, published on Nov. 13 2015)

Apple opens in Georgia

OCT. 23 2015 (The Conway Bulletin) — US-based Apple will open an official rep office in Georgia in November, ending a decade-long absence in Tbilisi. Company representatives said the rep store will solve warranty issues for customers, who were previously forced to go to neighbouring countries to buy Apple products with a valid warranty. The new Tbilisi office is not one of Apple’s iconic spacious, gleaming shops.

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(News report from Issue No. 254, published on Oct. 30 2015)