Itella has signed a long-term warehousing contract with M.Video, one of the leading Russianconsumer electronics retailers, providing 70,000 cubic meters of warehouse space in Krekshino,
Moscow region, and 5000 sqm of small cells at a mezzanine zone.Itella initially partnered with M.Video back in 2005. The new contract expands on the long-termcooperation with the required warehousing space almost doubling compared to last year. M.Video isalso one of the biggest air & sea freight clients of Itella in Russia with volumes growing at aremarkable pace during the last year.
“M.Video’s decision shows that Itella’s strategy to make consumer electronics one of the keysegments of our business is a right step. We are very happy about that. A growing long-termcooperation with such a big client as M.Video shows that Itella’s warehousing operations in Russiaare organised in a highly professional way. The strategic logistics partnership will continue inclose cooperation in order to increase efficiency and to further develop new innovative services,”Elena Pechnikova, Contract Logistic Director, OOO Itella, said.
“Since 2012, Itella has also been our biggest air & sea logistics partner. Our cooperationin transport services is one reason to strengthen our partnership further in other logisticsservices, including warehousing,” Irina Ivanova, Supply Chain Director, M.Video, added.
M.Video started operating in 1993 to become the first publicly traded company in the domesticconsumer electronic retail sector in 2007. The company’s shares are traded on Russian RTS and MICEXstock indices. In 2012, the company generated retail sales worth RUB 158 billion (€3.9 billion)equalling year-on-year growth of 20%. M.Video runs 296 brand name stores in 127 Russian cities asof December 31, 2012. The selling space of M.Video stores amounts to 537,000 sqm while the totalspace accounts for 723,000 sqm.
