The merged network of Svyaznoy and Euroset has begun testing new names and store formats in various Russian cities. The news was reported by RNS. Journalists noticed one of the experimental locations under the name Yes, which opened on the site of a Euroset store in a shopping center in southwest Moscow. According to RNS, the exterior design of the new store differs little from the typical Euroset look: the word Yes is applied in white lettering on a yellow sign, with a logo in the same color palette nearby.
The total number of brands being tested and the geography of the testing were not disclosed. According to the agency, Yes is the only trademark (application filed in late March) that Svyaznoy has attempted to register since the start of 2019.
History of Euroset
Euroset was founded by entrepreneurs Yevgeny Chichvarkin and Timur Artemyev. In 2008, the company was sold to businessman Alexander Mamut, who resold 49.9% of the shares to VimpelCom (the Beeline brand, part of the Veon group). Some time later, Alexander Malis took the helm of the company.
In 2012, Euroset was split on a parity basis between VimpelCom and, on the other side, MegaFon and its largest shareholder, the USM holding. Subsequently, USM's stake was bought out by MegaFon.
In 2017, a decision was made to divide Euroset. MegaFon retained the legal entity and approximately half of the chain's 4,000 stores. VimpelCom took 1,800 stores and paid MegaFon 1.25 billion rubles.
Merger with Svyaznoy
Svyaznoy was founded by businessman Maxim Nogotkov. In late 2014, Nogotkov faced problems repaying loans for his companies. In early 2015, Trellas, the parent structure of Nogotkov's business, came under the control of Oleg Malis—brother of Alexander Malis—who bought out Nogotkov's main debts.
In 2017, negotiations began between VimpelCom and MegaFon on the future merger of Euroset and Svyaznoy. The corresponding deal was concluded in April 2018. Under its terms, MegaFon received 25% + 1 share of the merged company. The remaining stake belongs to Oleg Malis's structures. SLV became the controlling shareholder of the joint venture.
In June 2018, the head of the merged company, Alexander Malis, announced that Euroset stores would be rebranded under the Svyaznoy name or an entirely new brand. The combined network will have 5,500 stores in 1,300 Russian cities.
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