X5 Retail Group, one of the largest Russian food retailers, could be set to open up to 1,000 new stores across the country over the next three years, as part of a new agreement.
The retailer has signed an agreement with the Central Union of Consumer Societies of the Russian Federation (Centrosoyuz) to ‘encourage the development of retail trade in Russia [...] and secure the supply of affordably priced staples and other high-quality products to remote rural areas.’
X5's Pyaterochka stores will be opened at Centrosoyuz’s existing consumer cooperatives, combining the resources of both organisations.
The project will be implemented largely through franchising.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
