HomeNewsEastFruit retail audits predicted fate of entire chain again — Silpo buys out Furshet supermarkets
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EastFruit retail audits predicted fate of entire chain again – Silpo buys out Furshet supermarkets

On February 18, 2021, the Antimonopoly Committee of Ukraine granted permission to Silpo-Food LLC (Fozzy Group) to acquire control over the assets of the Furshet Group. Both companies retail primarily in consumer goods.

The exit of the Furshet supermarket chain from the business was predicted by the EastFruit retail audit. Once again, this confirms that to assess the state of business of a supermarket chain, it is enough to conduct a high-quality audit and benchmarking of the produce department, which is absolutely key to the success of the entire food retail business.

“Over the past two years, our audits have successfully predicted the exit from the retail business of supermarket chains in Moldova and Ukraine. In the case of Furshet, it is more proof of the objectivity and high professional level of our audits since Furshet has been a stable outsider of ratings in Kyiv for several years,” says Andriy Yarmak, an economist at the Investment Centre of the Food and Agriculture Organization of the United Nations (FAO).

It is interesting to note that the Silpo chain itself has recently demonstrated a stable deterioration in the results of audits in Kyiv and other cities of Ukraine. In November 2020 in Kyiv, Silpo showed the third-worst result according to the complex assessment of fruit and vegetable departments and for the first time lost even to Furshet! The second from last place was taken by another chain of the Fozzy group – Fora. Things are not good at Silpo in its native city Dnipro where it also took the penultimate place coming close to last, which is firmly entrenched in another supermarket chain of Fozzy Group with the eloquent name “Trash.” In the near future, it remains to be seen that the chain will be able to improve its performance since a low-quality fruit and vegetable department repels consumers who will then choose other supermarkets and the choice in Ukraine is now very wide.

It should be noted that Furshet also has a retail business in Moldova. Owned by the same owner of the Ukrainian Furshet, the “Fourchette” supermarket chain is also not very successful. According to the results of the EastFruit audit in November 2020, it took the penultimate place in the overall rating of Chisinau, having lost five positions in a year. No statements have been made about whether Silpo is buying the Furshet retail business in Moldova.

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