History and Structure
The Group was founded in 2001 and has achieved the following key milestones:
- First Store: Launching of first O’KEY hypermarket in St. Petersburg in 2002 based on the modern Western European hypermarket model;
- Expanding Operations in St. Petersburg: Launching of eight additional hypermarkets and two O’KEY supermarkets in the St. Petersburg area between 2003 and 2006; increasing total selling space from approximately 6,000 square meters to approximately 87,000 square meters;
- Change of Management: Hiring of new management with international experience in 2007, including the current CEO, Executive Director and Marketing and Sales Director;
- Regional Expansion: Beginning in 2005, entering six new regions in three federal districts; between 2007 and 2008, increasing the Company’s total number of stores to 37, more than doubling O’KEY selling space to 190,000 square meters; becoming one of Russia’s top-ten food retailers in terms of revenue; acquiring lease rights for six Ramstore stores; and
- A Leading Retailer: In 2009, O’KEY became the third largest Russian food retailer (excluding multinationals) in terms of revenue, launched its first store in the Moscow region and acquired two stores from another food retail operator, for a total of 46 stores at the end of 2009.
The project of the food retail business under the O’KEY brand name started with the establishment of the Company in 2001. The following table sets out the number of hypermarkets and supermarkets and the total number of O’KEY stores at the end of each year and the most recent interim period since 2002: