STAR OPENS THE 13TH SUPERMARKET IN YEREVAN

ArmInfo
2009-03-16 10:13:00

ArmInfo. The biggest retail network of Armenia, STAR Company, will
open its 13th supermarket in Yerevan on March 17.

As Head of the Department of Shares of STAR Company Mariam
Harutyunyan told ArmInfo, this supermarket is located in Arabkir
community (instead of the former store "Partez") and, according to the
multiformat network development concept, it will be in a metro format
(with square of about 300 sq m). Both foodstuffs (90%) and non-foods
(10%) will be presented in the supermarket.

Executive Director of STAR Vahan Kerobyan has recently told ArmInfo
that the Company schedules to open 2 supermarkets more in Yerevan
till late, 2009.

To note, the authorized capital of STAR as of early February, 2009,
made up about $12.2 mln and the total capital – $20 mln. Today,
STAR network, which has been functioning since 1998, numbers 12
supermarkets (11- in Yerevan and 1 – in Hrazdan). STAR shareholders
are Henri Zakharyan (71,7%) and the European Bank for Reconstruction
and Development (28,3%).

From: Emil Lazarian | Ararat NewsPress