December, 16. 2005
First Prisma hypermarket in Riga
SOK will open its first Latvian Prisma hypermarket in Riga. The unit will be located in the Domina shopping centre and will open its doors in autumn 2006. The Prisma chain is the market leader in the hypermarket trade in both Finland and Tallinn, the capital of Estonia. Arttu Laine, SOKs country director, Baltic countries, states that Prisma also seeks to achieve market leadership in hypermarkets in Riga, the capital of Latvia.
In the first phase, we have our sights set on opening 3-4 Prisma hypermarkets in different parts of Riga. Over the longer term, our objective is to claim leadership in this market, which boasts just under one million customers.
The Prisma hypermarket that will be located in the Domina shopping centre will measure about 10,000 square metres and employ close to 150 people. It will stock about 60,000 different products.
Prismas competitive advantages in the Riga market will be its permanently low prices, large product mix and ease of shopping. Thanks to its location, the Domina shopping centre is an excellent place to start up operations in Riga, says Pekka Sääskilahti, managing director of AS Prisma Latvija.
Domina is Rigas newest shopping centre. One of the leading malls in the city, it is a high-quality place to shop, housing just under 150 speciality stores.
The S Group consists of 22 regional cooperative societies and SOK Corporation with their subsidiaries. At present, SOK is an importer and retailer of Peugot cars in Latvia (AS Lauva Auto). The value of the sales of SOKs Baltic companies will rise to slightly over EUR 200 million in 2005 and they employ about 1,000 people. The S Group has a total of around 26,500 employees. The Groups sales in Finland and abroad amounted to EUR 8.1 billion in 2004
For further information:
Arttu Laine, Country Director, Baltic Countries, tel. +372 56 809 606, firstname.lastname@example.org
Pekka Sääskilahti, Managing Director, tel. +358 10 768 2172, email@example.com
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