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Fix Price

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Fix Price
Revenue$4.05 billion[1] (2022)
$6 million[1] (2022)
$313 million[1] (2022)
Total assets$1.65 billion[1] (2022)
Total equity$427 million[1] (2022)
Websitehttps://fix-price.com/

Fix Price is a Russia-based chain of discount variety stores.[2][3] At the end of 2022, the chain of stores consisted of 5,663 stores[4] in Russia, Belarus, Kazakhstan, Uzbekistan, Latvia, Georgia, Kyrgyzstan, Mongolia and Armenia.[5] As of October 2023, the company has 6,141 stores.[6]

History

[edit]

The company was founded in 2007 by Sergei Lomakin and Artem Khachatryan, founders and executives of the former Kopeyka supermarket chain.[7] The trading strategy, brand and design of the Fix Price chain of stores were developed by the British consulting company Campbell Rigg.[8]

The first Fix Price store was opened in December 2007.[9] During 2008, the first 60 Fix Price stores were opened.

In 2014, the chain consisted of 1,543 stores.[10] As of September 2015, the network already included 1,930 stores.[11] In 2016, the Fix Price network included 2,097 stores, of which about 400 were franchised.

In 2016, the first chain stores were opened in Georgia and Kazakhstan.[12]

As of February 2018, the network consisted of 2,510 stores in Russia, as well as several franchise stores in Latvia, Belarus, Kazakhstan, Uzbekistan and Georgia.[13] In March 2019, the 3,000th store was opened in Moscow,[14] at the end of 2019 the Fix Price network included 3,306 stores.[9]

In Russia in 2019, according to Oliver Wyman, the company’s share in the segment of goods at fixed low prices (variety value retail) was 93%.[15] In 2020, the network increased by 655 stores,[16] the total number of company personnel amounted to 32 thousand people.[17]

Goldman Sachs Group, Inc acquired a stake in the company in 2020.[18]

By the end of 2020, Fix Price had revenue of 190 billion rubles ($2.6 billion) in a year.[19]

In March 2021, Fix Price held an IPO on the London and Moscow stock exchanges. Investors were offered 21% of the authorized capital of the company (178.4 million global depositary receipts at a price of $9.75 each[20]). The company raised about $1.7 billion.[21] The share of each of the co-founders decreased from 41.66% to 35.43%. Selling shareholders still have a put option for another 26.8 million GDRs. Now Fix Price's capitalization is estimated at $8.3 billion.[22] This is the largest listing of a Russian company in ten years.[23]

In July 2021, the chain crossed the mark of 4,600 open stores.[24]

In September 2021, Samonico Holdings of Marathon group of Alexander Vinokurov disinvested from the capital of Fix Price to sell its 2,98% of shares (25,36 million GDR) with a 10% discount by share of the total of 850 million shares.[25]

In February 2022, Fix Price Group announced plans to change the company's jurisdiction. Previously, the company was registered in the British Virgin Islands. On June 15, 2022, Fix Price Group received permanent registration in Cyprus.[26]

In September 2022, the chain included 5,462 stores, including 4,855 owned and 607 franchised.[27] As of December 31, 2022, Fix Price had 5,663 stores.[4]

In 2023, the company opened its first two stores in Mongolia.[28] As of June 2023, Fix Price had 6,000 stores.[29]

In October 2023, Fix Price Group received listing on the Astana International Exchange (AIX).[30] As of October 2023, the company has 6,141 stores.[6]

On November 9, 2023, Fix Price shareholders voted to change jurisdiction from Cyprus to Kazakhstan.[31][32]

References

[edit]
  1. ^ a b c d e "Q4 and 12M 2022 Financial Results" (PDF). Fix Price. 27 February 2023. p. 45. Retrieved 27 February 2023.
  2. ^ "Fix Price оказалась одним из крупнейших импортеров игрушек в России". РБК (in Russian). Retrieved 2020-12-28.
  3. ^ "Инвесторов приманят на Fix Price". Коммерсантъ. Retrieved 2020-12-28.
  4. ^ a b "Выручка Fix Price выросла в 2022 году на 20,5%, до 277,6 млрд рублей | Крестьянские ведомости". Крестьянские ведомости | Наиболее полный ресурс по аграрной информации в России. 2023-01-26. Retrieved 2023-12-03.
  5. ^ "Russia's Fix Price Group Opens 4,000th Outlet". European Supermarket Magazine. Retrieved 28 December 2020.
  6. ^ a b "Fix Price Group получила листинг на Астанинской бирже". РБК (in Russian). 2023-10-16. Retrieved 2023-12-03.
  7. ^ Aris, Ben (October 27, 2020). "Russian crises drive a discount retail boom". bne IntelliNews. Retrieved 28 December 2020.
  8. ^ "Откуда в России появились зарубежные бренды и в чем их секрет". NEWS.ru (in Russian). 2023-03-13.
  9. ^ a b "Fix Price". Forbes.ru (in Russian). Retrieved 2023-12-03.
  10. ^ "Как основатели «Копейки» зарабатывают на товарах по одной цене". РБК (in Russian). 2014-11-05. Retrieved 2023-12-03.
  11. ^ "В России появится первая зарубежная сеть магазинов фиксированных цен". РБК (in Russian). 2015-09-07. Retrieved 2023-12-03.
  12. ^ "Магазины «все по 2 лари»". Газета РБК. Retrieved 2023-12-03.
  13. ^ "Инвесторов приманят на Fix Price". Коммерсантъ (in Russian). 2018-03-19. Retrieved 2023-12-03.
  14. ^ Гурджи, Владислав; Анисимова, Алена (2019-03-23). "Ценные призы и памятные фотографии: Компания Fix Price отпраздновала открытие 3000-го магазина". 360°. Retrieved 2023-12-03.
  15. ^ "The Bell — деловые новости и аналитика". The Bell (in Russian). Retrieved 2023-12-03.
  16. ^ "Все по $9,75 - Fix Price конвертировала успешную бизнес-модель в рекордное IPO. Обобщение". INTERFAX (in Russian). 2021-03-05.
  17. ^ Мамедов, Джейхун. "Как устроен бизнес Fix Price: исследование Inc". Inc. Russia (in Russian). Retrieved 2023-12-03.
  18. ^ Khrennikov, Ilya (November 18, 2020). "Fix Price to Build on Goldman Backing With London IPO Plan". Bloomberg. Retrieved 28 December 2020.
  19. ^ "Fix Price Raises $1.7 Billion in Biggest Russian Retail IPO". Bloomberg. 2021-03-05.
  20. ^ "Russia's Fix Price raises IPO expectations as BlackRock and Qatar back float". www.ft.com. Retrieved 2023-12-03.
  21. ^ "Fix Price raises USD2 billion in London in biggest Russian retail IPO". London South East. 2021-03-05.
  22. ^ "Fix Price raises $2bn with London IPO". www.intellinews.com. 2021-03-05. Retrieved 2023-12-03.
  23. ^ "Fix Price raises USD2 billion in London in biggest Russian retail IPO". Morning Star. 2021-03-05.
  24. ^ "Fix Price открыл 4 600 магазин сети". Retail.ru (in Russian). 2021-07-14. Retrieved 2023-12-03.
  25. ^ "Marathon Group выйдет из капитала ритейлера Fix Price" (in Russian). Интерфакс. 2021-09-14.
  26. ^ "Fix Price получил постоянную регистрацию на Кипре". Ведомости (in Russian). Retrieved 2023-12-03.
  27. ^ "Акции FIX Price (FIXP) — цена на сегодня, график стоимости, курс в 2023, последние новости". Коммерсантъ (in Russian). Retrieved 2023-12-03.
  28. ^ "Fix Price вышел на рынок Монголии". Ведомости (in Russian). Retrieved 2023-12-03.
  29. ^ "Fix Price открыл 6000-й магазин в России". Ведомости (in Russian). Retrieved 2023-12-03.
  30. ^ "Расписки Fix Price начнут торговаться на бирже Астаны". Forbes.ru (in Russian). 2023-10-16. Retrieved 2023-12-03.
  31. ^ "Fix Price shareholders back re-domiciliation to Kazakhstan". interfax.com. Retrieved 2023-12-03.
  32. ^ "Акционеры Fix Price проголосовали за редомициляцию с Кипра в Казахстан". Forbes.ru (in Russian). 2023-11-09. Retrieved 2023-12-03.
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