icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Russian retailer announces a $US 700 MLN worth investment plan

Russian retailer announces a $US 700 MLN worth investment plan
On Thursday, Russia’s largest food retailer, X5, unveiled a new five-year strategy with plans to invest $US 700 MLN this year, to move into the hypermarket sector as well as focusing on its core areas of supermarkets, and discounters.

The company's long-term objective is to remain a leader in all areas.

The company currently operates more than 450 Pyaterochka discount stores across Russia, as well as Perekrestok supermarkets in Russia and Ukraine.

X5's Chief Financial Officer, Vitaly Podolsky, praised the growth of Russia's retail sector.

“It’s a unique market in the global retail landscape. The top Russian retailer grew around 50% last year – it’s more then twice faster then the Chinese market, not to mention European and North American markets which grow at a single-digit pace,” he said.

Podcasts