Business news from Ukraine

EVA will invest UAH 200 mln in opening new stores in 2024

27 October , 2023  

The chain of perfumery and cosmetics stores EVA plans to open up to 60 new stores in 2024, with estimated investments in this area amounting to about UAH 200 million.

The company’s press service told Interfax-Ukraine that the focus will remain on the development of the EVA.UA online platform.

By the end of 2024, the company plans to complete the construction of a new warehouse in Lviv, and in 2025, a large-scale logistics center in Odesa.

“We are planning to make them (logistics warehouses – IF-U) automated – with robots. We are still finalizing the necessary investments, but we already see that they will amount to billions of hryvnias. We continue to invest in the EVA business despite the war. Because we believe in Ukraine’s victory and that the country will be restored and people will return home,” the press service quoted Olga Shevchenko, Executive Director of RUSH LLC, as saying.

According to the release, since the beginning of the year, EVA has opened 31 new stores and reopened 29, including nine new stores and five reopened stores in the third quarter. As of the end of the third quarter, the chain has 1,035 operating outlets.

New stores are opened mainly in the Women’s Energy concept, which the chain presented last year in Vinnytsia. There are more than 30 such EVAs in total.

According to Viktor Serednyi, COO of RUSH LLC, there is also a gradual rebranding of existing facilities that need to be updated, but a complete rebranding of the entire chain is not yet in the cards.

“The cost of re-equipping one store to fit the new concept is about UAH 3 million. Opening a completely new store can cost from UAH 5 to 10 million, depending on the size,” he said.

By the end of the year, the company plans to open 26 new EVAs. In particular, a new flagship EVA beauty lab is to appear in the Respublika shopping center. This format will offer more cosmetics and perfumes, a dermatology center, professional hair care series and an expanded category of premium brands.

RUSH LLC, which manages the EVA chain, was founded in 2002. It has 52 own trademarks (OTMs), which are represented by household goods, perfumes, cosmetics, jewelry, personal care products, accessories, underwear and children’s products. In 2022, the share of FMCG sales in physical terms was 30.6%. The company employs about 13.4 thousand people.

According to Opendatabot, the owner of RUSH LLC is Korsolyushyn LLC (100%), and the company’s ultimate beneficiaries are Ukrainian businessmen Ruslan Shostak and Valeriy Kiptyk.

According to RUSH’s financial results, its net profit in 2022 increased by 16.7% to UAH 973.8 million, while the value of its assets decreased by 2.5% to UAH 10.3 billion. The EVA network’s turnover in 2022 decreased by 7% year-on-year to UAH 15.7 billion.

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