MOSCOW, December 30. /TASS/. Detsky Mir shareholders have approved the decision to reorganize the company into a private one, Russia’s children's goods retailer reported on Friday.

"Detsky Mir Group <…> announces that the Extraordinary General Meeting of Shareholders, held on 29 December 2022, resolved to approve the new Charter of the PJSC Detsky Mir and the reorganization of PJSC Detsky Mir in the form of a spin-off of LLC DM as a subsidiary operating company," the company said.

On November 7, Detsky Mir said it planned a reorganization into a private firm in the form of a spin-off of LLC Detsky Mir as a subsidiary operating company. The retailer will continue its operations in children’s food and non-food product retail and will be able to focus on developing its existing retail chain, as well as to manage its business in an efficient and flexible way, the company added.

Detsky Mir Group is a multi-format omnichannel retailer operating on the market of children’s goods in Russia, Kazakhstan, and Belarus. The group comprises the Detsky Mir and the Detmir Pickup retail chains, the detmir.ru online store and marketplace, as well as the Zoozavr pet supplies retail chain. As of June 30, 2022, the total number of the group’s stores amounted to 1,123 across 442 cities and towns in Russia, Kazakhstan and Belarus. The group’s total selling space was 981,000 sq. m.