The retailer is preparing to open its first stores in France and the Netherlands, as well as enter the Chinese market.
Russian food retailer Vkusvill, which develops the country's largest chain of health food stores, will soon begin international expansion and enter several new markets.
Andrey Krivenko, the founder and shareholder of Vkusvill, told Reuters that the retailer is preparing to open its first stores in France and the Netherlands, as well as enter the Chinese market with its retail concept. According to Krivenko, the opening of a store in Paris is currently at an advanced stage. It is expected that the launch of the first foreign point of the Russian retailer will take place in 2020.
For a long time, Vkusvill worked exclusively on the Moscow market, but since 2018 it has begun regional expansion by opening dozens of stores in the cities of Central Russia. In recent years, the retailer has been one of the fastest growing retailers in the market and has been actively experimenting with various retail formats, as well as increasing online sales. The retail network under the Vkusvill brand is approaching the mark of 1,000 stores. Based on the results of 2019, the company predicts revenue growth at the level of 60%.
At the same time, it became known that the retailer is considering the possibility of an initial public offering on the Nasdaq in New York, or on the Moscow Stock Exchange. Thus, this may be the first IPO in the grocery retail segment in Russia since 2014, when Lenta was listed on the London Stock Exchange. According to market sources, the Vkusvilla listing may take place in early 2021. To date, Krivenko and his team own 88% of the retailer's shares, and another 12% are in the portfolio of the Baring Vostok investment fund.