"Lenta has announced the purchase of Rainbow Smiles.

Retailer "Lenta" buys a chain of stores for personal care and home goods "Smile of the rainbow". The retailer announced this on December 2 on its website.

"The purchase of Smile of the Rainbow, the second largest chain of drogery stores in the country, is a logical step in Lenta's transformation into a multi-format player. This deal allows us to consolidate our position in the cosmetics and household chemicals segment," said Lenta CEO Vladimir Sorokin.

The retailer noted that under the management of the company "Smile Rainbow" as of September 30, 2024 was more than 1.5 thousand stores with a total area of 204 thousand square meters and three distribution centers. The company's retail revenue for January-September 2024 reached RUB 29.6 billion. Compared to the same period last year, it increased by 17.4%.

In "Lenta" added that the network "Smile Rainbow" will continue to work under the same brand and expand geographically, especially in the Moscow region.

Earlier, on August 19, the retail chain Magnit announced that it was launching a franchise. The retailer is the largest in Russia by number of stores. Franchisees will get the right to use the brand and business model of "Magnit". The partner stores will be identical to the chain's own outlets in terms of pricing, assortment and many other parameters.