OREANDA-NEWS  On 10 September was announced, that the first supermarket Oliv'e, a project by Smart Value Retail, opened in Moscow.

The store is located in the shopping centre Saturn, 400m from Vodny Stadion subway station of the Moscow Metro. It is to operate as a thrift supermarket with the range of goods including approximately 7,500 groceries.

Oliv'e is an easy in/easy out store – 100 per cent of products are labeled that allows the buyers to serve themselves in every section of the supermarket. Besides, the paper price tags have been substituted for the electronic ones and the terminals for self-service will be installed in addition to the cash desks.

A concept of the network is to provide buyers with low prices by means of the introduction of innovative technologies.

According to Federico Erhart, CEO of Oliv'e network, “the supermarkets are intended for the buyers with family income of around USD 1,500 to do everyday or weekly shopping.”

A payback period of Oliv'e store is estimated to be around 5 years.

The second supermarket included in Oliv'e network is to open in west Moscow.

Smart Value Retail plans to launch the food retail network included up to 40 supermarkets with the annual turnover of around USD 400 million by the end of 2010.