Russian retail group Pyaterochka Holding NV is still considering various options as it selects a new name for the combined entity of the Perekrestok and Pyaterochka chains.
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Lev Khasis, group chief executive officer, said: “A final decision on a new name for the holding company will not be made until September. I cannot say today with confidence which name the Supervisory Board will choose for the holding company.”
Khasis added that the name change will not apply to the retail formats.
“The chains “Pyaterochka” and “Perekrestok” will continue to work under their respective banners. We are developing two different formats, each with its own brand identity, therefore it would not make sense to unite them under a single banner. In addition, the name recognition of both “Pyaterochka” and “Perekrestok” is close to 100%, and it would not be sensible to change the names of such well-known brands,” he said.
Pyaterochka said that it will make a final announcement regarding the name change in the Autumn.
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