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French Auchan invests $356 million in Russian market this year

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French Auchan invests $356 million in Russian market this year

In 2017, Auchan Retail, a French company, plans to invest more than 20 billion rubles ($356 million) in the Russian market, the General Director for a hypermarket format of the Russian branch of the retailer, Oleg Alkhamov, told reporters.

“This year we invest more than 20 billion rubles, which is aimed at opening new stores and upgrading IT systems, and, of course, these are investments in rebranding of our supermarkets” Oleg Alkhamov said.

According to him, this year, Auchan will open 4 hypermarkets and 20 supermarkets in Russia, however, this is not the final data.

“We will look at what the market could offer, we always consider proposals from developers who invite us into their trade centers,” the company’s representative added.

Last year the company opened 10 hypermarkets in Russia.

“It's not slowing down, it is these actual contracts that exist,” he said.

Currently, there are 102 Auchan hypermarkets in Russia.

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