Wal-Mart, the world’s biggest retailer, may opt to build its own stores in Russia in addition to buying an existing chain, a source familiar with the situation said Thursday.
Working under the radar, Wal-Mart’s Moscow office is looking at these two strategies rather than focusing solely on an acquisition, the source said.
The option of a purchase is “only a small part of the story,” the person said, asking for anonymity because he was not authorized to discuss the matter with the press.
A Wal-Mart spokesman said only that the company still considered Russia a promising investment prospect, declining to discuss specific plans.
“We are studying the appropriate means of entering the market,” said Konstantin Dubinin, the retailer’s Moscow-based corporate affairs director.
The company has had an office here since the fall of 2008, and it expanded its staff earlier this year. They are currently on the 19th floor of the Northern Tower in the Moskva-City business district.
If Wal-Mart chooses to go it alone, it may construct its stores in three sizes: 15,000 square meters; 8,000 square meters; and of smaller floor space, the source said.
Retailers such as France’s Auchan and St. Petersburg-headquartered Lenta already boast hypermarkets of about 15,000 square meters, while Magnit is betting on 8,000-square-meter stores. Even so, the formats are believed to have plenty of room to grow.
Source: The Moscow Times
Working under the radar, Wal-Mart’s Moscow office is looking at these two strategies rather than focusing solely on an acquisition, the source said.
The option of a purchase is “only a small part of the story,” the person said, asking for anonymity because he was not authorized to discuss the matter with the press.
A Wal-Mart spokesman said only that the company still considered Russia a promising investment prospect, declining to discuss specific plans.
“We are studying the appropriate means of entering the market,” said Konstantin Dubinin, the retailer’s Moscow-based corporate affairs director.
The company has had an office here since the fall of 2008, and it expanded its staff earlier this year. They are currently on the 19th floor of the Northern Tower in the Moskva-City business district.
If Wal-Mart chooses to go it alone, it may construct its stores in three sizes: 15,000 square meters; 8,000 square meters; and of smaller floor space, the source said.
Retailers such as France’s Auchan and St. Petersburg-headquartered Lenta already boast hypermarkets of about 15,000 square meters, while Magnit is betting on 8,000-square-meter stores. Even so, the formats are believed to have plenty of room to grow.
Source: The Moscow Times
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