German Discount Retailer to Enter Russia
- New Europe Investor
- September 08, 2015
German fixed price retailer, Euroshop will enter the Russian market taking advantage of the economic crisis in the country.
The chain will open in Russia this year and will be run by a franchise partner called Euroshop Russland. It is understand that the first shops will open in the city of Saransk in the Mordovia region of the country.
Moscow will see Euroshop open 15 stores by the end of the year.
The economic crisis in the country has hit wages, led to high inflation, and the currency collapse has hiked the price of imports. It has led Russian consumers to seek out discount stores making the market ripe for Euroshop’s entry.
Pyatyorochka, another discount chain, has seen its sales rise by 35% in the second quarter of 2015 compared to the same period last year.
Euroshop operate 200 stores in Germany and according to reports in the Russian media, its long term plan is to expand to 2,000 stores in Russia alone.
The retailer specialises in the sale of toys, stationary and a large variety of household items.