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The chain opened its first store in 1999 in St. Petersburg. Pyaterochka expanded its market to Moscow in 2001 and started a franchise program a year later. Pyaterochka Holding N.V. completed an initial public offering on the London Stock Exchange in 2005. Pyaterochka and Perekrestok merged in 2006 to create X5 Retail Group; the group kept the Pyaterochka brand.
In 2009, X5 Retail Group acquired Kopeyka, a retail chain with more than 660 stores and seven distribution centers. All Kopeyka stores were rebranded to Pyaterochka.
Pyaterochka launched a store refurbishment program in 2013 to introduce a new range of products, and make the store layout more spacious. Most of the stores were refurbished with a glass-front design. The Pyaterochka concept of brand discount stores is the core format for X5 Retail Group, followed by the Perekrestok supermarket chain.
Pyaterochka launched a store refurbishment new program in 2019. Most of the stores were refurbished with a glass-front design. The new Pyaterochka will offer almost twice as many fresh products in a selling area of around 150 sq m, which is about half of the sales floor. Vegetables, fruits and some of the perishable items are laid out in the dedicated fresh zone. On top of that, the rebranded Pyaterochka sells a wide assortment of foods to go and ready-to-eat meals and has a special area where customers can have coffee or fresh orange juice and charge their gadgets. An in-house bakery made it possible to expand the offering of bread and pastry.
X5 launched an express delivery service from Pyaterochka stores at the end of 2019. As of April 2020, the service is available in Moscow, Lyubertsy, Skhodnya and Kazan.