Novaya Linia owners plan new hypermarket chain in Ukraine

2011-07-15



Oleg and Igor Shandar, the shareholders of the Russian DIY retailer Novaya Linia, plan to found a new chain of stores, according to Interfax-Ukraine, after making the decision to sell their 35% stake in the company. The businessmen are planning to launch a new hypermarket chain (of average approximate area of 30,000 m²) in Ukraine selling home decor. They are currently in talks with potential land owners. Possible cities to host the new stores are Kiev, Dnipropetrovsk, Donetsk and Simferopol. The required investments have not been disclosed. According to Shandar, the estimated resources needed for the three openings would amount to $100m.

Novaya Linia was founded in 2000 and operates 17 retail outlets under the same banner in Ukraine. As Retail Update Russia previously reported, the rest of Novaya Linia's stock belongs to the investment companies Dragon Capital (46.27%) and East Capital (18.9%).