Eastern European Markets

October, the 6th 2010

SOK opens Prisma hypermarket in Narva – the largest store in the East-Viru county

Today, SOK’s subsidiary AS Prisma Peremarket opens its first store outside of Tallinn. The new store has more than 9 000 sq. metres of retail area, making it the largest hypermarket in the East-Viru county and also the store with the best selection. According to Janne Lihavainen, the Managing Director of AS Prisma Peremarket, Prisma’s competitive advantages in Narva are its prime location, good prices and wide selection. The new hypermarket has created more than 100 new jobs. The new shopping centre in Narva is owned by Vicus Limited, a development and investment company based in Finland.

“This is the first Prisma hypermarket outside of Tallinn,” says Janne Lihavainen, the Managing director of AS Prisma Peremarket. “One of the biggest advantages of the Narva Prisma is its location – the new shopping centre is located in the biggest residential district in Narva. Our other strengths are the constantly great prices and an extremely versatile selection.”

The newly-opened hypermarket has created more than 100 new jobs in Narva. “It was great that the people applying for jobs at the new Prisma knew so much about Prisma and were able to explain what exactly makes Prisma different from other retail chains. The Narva Prisma has a very strong and nice team,” says Ms Marge Lasn, the manager of Narva Prisma.

The range and layout of the Narva Prisma are similar to the Rocca al Mare Prisma hypermarket. In addition to a wide range of well-priced groceries, the store also focuses on other consumer goods. As in the hypermarkets of the world’s biggest chains, the new Prisma stores offer a wide choice of consumer electronics, home goods, sporting goods and clothing. In addition to goods with great value for money, the hypermarkets also sell products by well-known brands.

“During the recession, many other companies have cut back, but Prisma has used the crisis to expand. This year, we will open two big Prisma stores outside of Tallinn,” adds Lihavainen.

In Tallinn, there are five Prisma hypermarkets.The Narva Prisma shopping centre was designed and constructed by Oma Ehitaja AS and it is owned by Vicus Limited, a Finnish real estate development and investment company. Vicus investment funds have several retail properties under development in the Baltic countries with Prisma as the anchor tenant, the Narva shopping centre being the first one to open. "Prisma is an excellent anchor for our shopping centres and we are very glad to be part of their expansion in Narva and elsewhere in the Baltics," says Risto Hiekka, the CEO of Vicus.

Prisma operates on the Finnish, Estonian, Latvian, Lithuanian and Russian markets. Prisma expanded to Estonia in 2000 and is one of the most stable hypermarkets on the Estonian market. In Estonia, Prisma Peremarket employs more than 1 000 people.

In Estonia, SOK is represented by its subsidiaries AS Prisma Peremarket and AS Sokotel, which operates Sokos Hotel Viru in Tallinn.

For further information, please contact:
Ms Kadri Lainas
Director of Marketing and Communications
+372 56 450 326
Mr Risto Hiekka
Executive Director
+358 400 493 688
AS Oma Ehitaja
Kaido Fridolin
Executive Director
+372 50 17060

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