Wal-Mart’s interest in Russia grows
Speculation has emerged that Wal-Mart is interested in entering the Russian market. The retailer is reported to be seeking to enter the Russian market through a joint-venture with a local partner, although no details have been released into where Wal-Mart will locate in Russia, or what company it will partner.
Speaking at a retail conference in Moscow last week, Wal-Mart Vice President, Mike Bratchet, was reported in local press to have said “Local retailers are experimenting with new formats and are growing rapidly. Consumers are getting richer. All this makes Russia very, very attractive to us,”
This was followed yesterday by Angela Hofmann, Wal-Mart’s International spokeswoman, reported to have confirmed the retailer’s interest in the market.
IGD’s Retailing in Central, Eastern Europe & Russia report analyses the latest trends and is designed to help both suppliers and retailers understand the challenges and opportunities facing them across the CEE region, with extensive analysis of the Russian market.
Source: IGD.COM