Tashkent, Uzbekistan (June 3, 2024): Magnit’s M Cosmetic drogerie chain in Uzbekistan negotiated a partnership with OXYmed—one of the country’s leading pharmacy operators. The collaboration will see the two companies opening their stores in the same premises, which will help consumers buy an even broader range of products they need in one place, while the chains will enjoy increased traffic.

The first M Cosmetic outlet with an OXYmed pharmacy was opened in Tashkent. The stores are located in the same space but have dedicated entrances. The assortment in the new M Cosmetic was adjusted to account for the neighboring pharmacy, with a focus on the beauty, hygiene, and detergents categories and narrower representation of medicinal cosmetics and wellness products.

Besides opening stores in shared locations, the partnership also covers joint marketing activations. The first campaign, intended to celebrate the start of the collaboration, will reward customers with prizes for spending a certain amount in any of the two chains.

Future plans for the development of the new format will be defined after the pilot period, which will last for several months.

Denis Kosachenko, Chief Executive Officer of M Cosmetic:

“M Cosmetic’s partnership with OXYmed, a major pharmacy player operating around 120 stores, is in line with the development strategies of both companies, which aim to provide the best customer offerings in their respective segments. OXYmed pharmacies are an ideal pairing for our stores thanks to the similarity of missions and relevance of assortment. By joining forces, we will be able to offer our customers popular products for beauty, family, and home care together with pharmacy articles in one location, which will help them save considerable time.”

M Cosmetic partners up with major pharmacy chain in Uzbekistan