Tashkent, Uzbekistan (UzDaily.com) -- Magnum Cash&Carry retail chain from Kazakhstan is planning active expansion in Uzbekistan. This was stated by Mikhail Filippov, the company’s director of logistics, at the Tradex trade forum, which was held in Almaty on 1 November, Forbes Kazakhstan reported.

“We continue our expansion in Uzbekistan. Five have been added to the two existing stores, and 10 more stores are planned to open next year (2024), he noted.

The first stores of the Magnum chain in Uzbekistan were opened in 2021. In 2023, Magnum Cash & Carry LLP acquired 100% of the shares of Majid Al Futtaim LLC Uzbekistan, which owned the Carrefour supermarket chain in Uzbekistan. According to the terms of the deal, all Carrefour stores were to be renamed under the Magnum brand.

The Magnum Cash & Carry chain was established in 2007 and today has more than 230 stores in four different formats, such as Magnum 24/7 (hypermarkets), Magnum super, Magnum express and Magnum daily (minimarkets). The company ranks 7th in the ranking of “50 largest private companies in Kazakhstan – 2022” according to Forbes Kazakhstan. The owners of the company are Azamat Osmanov and Alexander Rodenkov. It is managed by Caspian Trading Investment Co. LLP. Ltd."

It is important to note that Magnum is not the only one showing interest in the Uzbek market. Many other Kazakh companies are also actively developing their presence in Uzbekistan, including construction projects of the BI Group company, the Lanzhou restaurant chain, IT projects Sergek, 1Fit and Cerebra, as well as the pasta factory Ansar Foods and others.