On 20 August 2010, Telemax, a retailer of consumer electronics and household appliances, opened a new store in St. Petersburg. The store occupies an area of 1,410 m2 in the Smile shopping centre and stocks 12,000 SKUs. The opening required an investment of approximately RUB 45m ($1.5m).
By the end of 2010, Telemax plans to open a further seven stores, with the next opening planned for Tambov.
During the whole year, the company plans to have invested RUB 367m ($12m) in the development of its chain.
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