Press House wins Moscow concession

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Press House, part of the Logos industrial group and a leading press distributor in Moscow, is to enter the travel-retail market for the first time at Moscow Sheremetyevo International airport

The company won a tender for the news and book concession in competition with five other bidders, said the airport press secretary Yulia Emm. Press House will pay a fixed rental and a concession fee of 11% of its revenue. The partners are forecasting annual revenues for the contract of $5m by 2004.

Logos Group, which also has oil and energy interests is investing an additional $2m in the domestic market to grow Russia's first printed matter retail chain under the Khoroshiye Novosti (Good News) brand name. In addition to news and magazines these self-service outlets offer books, stationery, cigarettes and drinks. The Khoroshiye Novosti chain, part of Press House, opened its first outlets in early 2001 and has 20 shops with a total 70 planned for the Moscow area by late 2003.