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. Last Updated: 07/27/2016

Perekryostok Hypermarkets Rebranded

X5 Retail Group, the country's largest grocer, announced Wednesday that it had successfully rebranded all Perekryostok hypermarkets to operate under the company's Karusel brand.

Because of the rebranding campaign, X5 now operates 47 Karusel hypermarkets within the European part of Russia and in the Urals region, including one recently opened store in Moscow.

CEO Lev Khasis said in a statement that X5 would now concentrate on advertising Karusel's hypermarket appeal to consumers during the crisis.

"Now that we have rebranded all hypermarkets as Karusel, we will focus our efforts on enhancing the format's appeal to consumers, particularly in areas that can help them in tougher economic times," he said.

X5 was formed in a merger between discounter chain Pyatyorochka and supermarket chain Perekryostok in May 2006. X5 acquired the Karusel hypermarket chain last June.