Nova Liniya

completed

The $13.0 million expansion project involves the construction and opening in Kiev of 2 new 10,000sq.m DIY (Do-It-Yourself) stores, in addition to the existing 5,000sq.m store, under the name Nova Liniya (NL or the company). The new stores, will follow the best practice of modern DIY format, comparable to those of Home Depot, Lowe’s, and OBI. They will offer a wide range of DIY products, more than 30,000, as well as specialized services. The project, to be implemented in 2 stages over a 20 month period, will address the growing demand in the construction materials, home care products, and consumer electronics. The DIY concept has become well established in Ukraine. Following a slump in the aftermath of the financial crisis in Russia and the subsequent depreciation of the Ukrainian currency, Ukraine’s retail sector, and one of its fastest growing segments, DIY retailing, has posted impressive growth, exceeding 16% in 2002. It is expected that this growth will continue in the forthcoming years and NL, as a first mover, will take full advantage of its established position.