The share of own brands in the Magnit retailer exceeded 20% in the first two quarters of 2022. Against the background of this news, the value of the chain’s shares exceeded 5,000 rubles.
Every fifth product in the store is now sold under its own brand, according to the official Magnit website.
The Magnit family of brands (650 items) has become an “absolute bestseller” (71% increase in sales). Other own brands grew less significantly:
- Premiere of Sabor and EatMeat at 53%,
- “Casper” by 50%,
- The fresh by 40%,
- Stellar at 33%,
- Lucky days by 23%,
- “My price” by 22%.
Now the own brand portfolio includes 25 brands and 4 thousand positions.
“We expect a further increase in demand for private label products and an increase in their attractiveness in the context of <…> decrease in the activity of several international brands in the market”, says Ekaterina Lobanova, Director of Commercial Purchasing of the Magnit retail chain
The company intends to fill emerging niches with its own offering to support buyers’ desire for rational spending across all categories and price segments.
Against the background of news about the growth in sales of own brands on August 9, the retailer’s shares exceeded 5 thousand rubles.
Market experts believe that the increase was also influenced by the information on August 8 that the trading network acquired the Greenhouse greenhouse complex, owned by the son of billionaire Roman Abramovich.
Hothouse greenhouses grow tomatoes that end up on the shelves of not only Magnit, but also Pyaterochka, Perekrestok and Azbuka Vkusa.
Author:
Ekaterina Alipova
Source: RB
I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.
