Russian retailer Magnit has launched a store format under the banner Magnit Family.

The new-style store aims to meet the needs of "a wider assortment" of customers and to implement "aggressive pricing" in premises not suitable for a standard hypermarkets, Magnit said today (14 May).

Key features of the format include selling space of up to 1,500 sq m, an assortment of more than 6,000 SKUs, an expanded fresh zone, production facilities for ready meals and the technology of the hypermarket format, the company said.

Magnit has opened five Magnit Family stores, which were reformatted from small hypermarkets. The retailer said it plans to increase this number to between 13 and 15 by the end of the year. 

A spokesperson for the retailer told just-food: "We have singled out some stores that can be converted to the new format that provide more selling space and therefore allows us to offer more of an assortment."

She added Magnit could open up to 150 Magnit Family stores by around 2018.