A Whole New “World” Opens in Ufa
Investment in the project was $800,000, with the new store occupying 2,000 sqm (1,500 sqm of retail space) in the Mercury shopping center at 65 Koltsevaya St.
“Although all the key Russian operators on the electronics market have a presence in Bashkortostan today, the region remains attractive to operators in our sector,” says Elizabeta Totunova, PR director at MIR. “The volume of turnover on the electronics and appliances market in 2006 reached $150 million, while this figure is forecasted to increase by 15% in 2007. This is one of the key regions in the near future in MIR’s regional development program.”
The first MIR store in Ufa has already been in operation for a year-and-a-half, and the company has managed to garner a 6% share of the regional electronics and appliances market in this time. The opening of the second MIR hypermarket in Ufa will very likely help the company raise this figure to 10%. Moreover, MIR plans to open by the end of the year a third store in Ufa and one in Sterlitamak, the second largest city in the republic.
