Karusel Supports Russian Red Cross Aid Program
OREANDA-NEWS. June 15, 2012. X5 Retail Group N.V., (“X5” or the “Company”), Russia's largest retailer in terms of revenue (LSE ticker symbol: FIVE), announced today that its Karusel hypermarket chain has concluded an agreement to make donations to the Russian Red Cross (Red Cross), a charitable organization celebrating its 145th anniversary this year.
In May 2012, Karusel began the transfer of 700 containers, filled with clothes, hygiene items, household products, toys and other goods with an estimated value of RUR 40 million, to the Red Cross to be distributed as charitable aid to pensioners, orphans and disabled people in
Lyudmila Kamozina, Russian Red Cross Regional Operations and Organizational Development Director, commented:
"The Russian Red Cross would like to thank X5 Retail Group's managers and employees for their assistance in providing necessary aid to people under our care. We hope to continue our cooperation to help solve the social problems facing vulnerable segments of our society."
Another charitable initiative of the Company is the strategic partnership of its three core brands, Pyaterochka, Perekrestok and Karusel, with the Life Line Charitable Fund (the "Fund"), which helps children with severe diseases. X5 is a member of the Fund's Board of Trustees and the Company's stores collect and transfer donations from all the regions in which X5 operates to the Fund.
Mikhail Susov, Corporate Relations Director, Х5 Retail Group N.V., added:
"X5's philanthropic activities are an integral part of the Company's Social Policy. Effective charitable programs are not just a transfer of funds; they should involve sustainable solutions to resolve emerging social problems. In accordance with our policy, we plan to gradually implement large-scale projects, rather than individual one-off events."