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16:52
PIATNASHKA BOOKSTORE CHAIN TO EXPAND CHAIN TO 20 STORES IN KYIV BY LATE AUGUST 2009

Kyiv, August 3 (Interfax-Ukraine) – The Kyiv-based Piatnashka bookstore chain plans by late August 2009 to expand the number of its outlets to 20 in Kyiv, while at present, 12 stores are operating, according to the co-owner of the chain, Kostiantyn Klimashenko.

"We thought about developing a cheap bookstore chain a long time ago. Today, this coincides with gambling ban and vacant premises. We've opened 12 stores in Kyiv and plan to increase their number to 20 by the end of August 2009," he told Interfax-Ukraine.

Klimashenko did not disclose the level investment in the development of the chain, adding that the sums are considerable.

He said that in particular, around ten premises of from 35 to 250 square meters were leased today in premises earlier occupied by gaming halls.

"Our stores are operating in some of them, and decoration is been done in some of them, in particular, in a property of 250 square meters," he said.

Klimashenko did not disclose the rent rates for the premises, adding that they are 1.5-2 time less than the gambling businesses paid. He said that gambling business showed the highest profitability among retailers.

He also said that the chain is in talks with owners of premises in several cities with populations of over one million.

The Piatnashka bookstore chain was created in June 2009. Klimashenko is the owner of the chain. He also created the Book Supermarket chain, which was established in 1991.

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