Fix Price network plans to enter the UAE market

The company profile in HeadHunter published vacancies for managers, head of the retail sales department and logistics specialists. His responsibilities include managing a group of stores in the United Arab Emirates, developing and maintaining an assortment and pricing policy, placing and tracking orders with suppliers in the country, Kommersant reported.

The chain’s representatives said they are always considering business development options, but declined to comment on entering the UAE market.

In the third quarter, 195 stores were opened, of which only 29 were franchised. Franshiza.ru expert Anna Rozhdestvenskaya believes that the chain, entering the UAE market, will open stores without involving partners.

• Fix Price operates a chain of fixed price stores. The retailer was founded in 2007 and currently operates in the markets of Russia, Belarus, Kazakhstan, Latvia, Uzbekistan, Georgia and Kyrgyzstan. In the last four countries, the chain’s stores operate solely under a franchise model.
• In March 2021, the company made an initial public offering in London and Moscow, the placement price was $9.75 per share. Fix Price’s capital is divided into 850 million shares. One share equals one RDA.
• Fix Price Group’s revenue in the third quarter of 2022 increased by 21.2% year-on-year to 70.1 billion rubles, net profit – by 36.7% to 7 billion rubles.
• Until the end of 2025, Fix Price plans to invest approximately 15-16 billion rubles in the development of logistics and warehouses. During this period, the company intends to double its storage space.