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Eastern European Markets

NEWS RELEASE
January 12th, 2009

Estonia’s Prisma chain expands to Narva

Prisma Peremarket, which is owned by the S-group, expands to the city of Narva in the north east of Estonia. The size of the Prisma hypermarket in Narva is 13,200 square metres and the store surface area is around 9,000 square metres. The hypermarket employs approximately 100 people.

AS Prisma Peremarket has signed a contract with Vicus Limited, a real estate development and investment company that is developing the shopping centre in Narva. The building work of the centre starts during 2009 and it should be ready by the end of 2010. Development and building is done by Estonian company AS Oma Ehitaja.

The new Prisma is Prisma Peremarket’s first hypermarket-sized store outside Tallinn. Janne Lihavainen , the Managing Director of Prisma Peremarket, considers the current economical climate as being favourable for expansion.

– The location of the Prisma hypermarket in Narva is an important asset. The new shopping centre is located in the largest residential area of the city. Additionally, affordable prices and extensive product range are our competitive advantages, says Lihavainen.

The product range and structure of the Prisma hypermarket in Narva is similar to the Rocca al Mare Prisma in Tallinn, which was opened at the end of last year. Besides the food product range there is a good range of consumer goods in the store. The store also offers electrical products, furnishings, sporting goods and clothing.

– The current economical climate is suitable for expansion. Compared to the situation this time last year the terms of negotiation are more profitable. The aim of Prisma is to always offer the consumers the most affordable shopping basket in Estonia. The favourable rental terms of our business premises give us the possibility to operate effectively and keep our prices low, says Lihavainen.

Vicus Limited is a real estate development and investment company operating in Estonia, Latvia, Lithuania, Ukraine and Russia. Prisma, which expanded to Estonia in year 2000, operates in Finland, Estonia, Latvia and Russia. Prisma Peremarket employs over 800 people in Estonia.

For more information:
Janne Lihavainen, AS Prisma Peremarket, Managing Director, tel. +372 568 09 601, showAddress('sok.fi','janne.lihavainen', true); " > janne.lihavainen@sok.fi
Antti Sippola, Senior Vice President, SOK, tel. +358 10 76 82 890, antti.sippola@sok.fi
Risto Hiekka, Vicus Oy, CEO, puh. + 358 400 493 688, risto.hiekka@vicus.fi

www.s-kanava.fi


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