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BJP looks to trigger FDI surge into retail sector after election victory

Modi wins Uttar Pradesh March 2017Indian retail: BJP’s resounding victory in this month’s Uttar Pradesh assembly elections is expected to trigger a speedy relaxation in the rules governing inward investment into India’s fiercely protected multi-brand retail sector, the Times of India reported on Monday.
According to its sources, (more…)

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Sinopec considers IPO for retail arm

Sinopec petrol stationThe state-run China Petroleum & Chemical Corp (Sinopec), was this week reported to have dusted off plans for an IPO of its gas-station and convenience-store retail business. According to unnamed sources, Sinopec, which is itself listed in Hong Kong and also trades on the Shanghai and New York stock exchanges, has asked banks to submit proposals by this month for roles to manage a potential Hong Kong listing of Sinopec Marketing Coin in 2017. (more…)

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Auchan opens first Tajik hypermarket in ‘revolution’ for food security

AuchanFrance’s international retail group Auchan yesterday opened the very first Tajik hypermarket – and the company’s first in Central Asia – in Dushanbe with an inauguration ceremony attended by the country’s President Emomali Rakhmon. The 5,000 m² outlet has been developed with (more…)

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Carrefour moves into Kazakhstan

CarrefourFrench supermarket chain is planning to open its first store in Kazakhstan in the next few months. The 12,000 m² store will be situated in the new Grand Park Almaty shopping centre. The French home improvement chain Leroy Merlin is also planning to open sites in Almaty and the surrounding region by the end of the year. Negotiations are additionally under way between the authorities and Auchan, Bombardier and IKEA.

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Metro’s Media Markt eyes up gaps in $13bn Turkish electronics market

MediaMarkt Turkey German retailer Metro’s subsidiary is planning to ramp up its Turkish operations, its country director Yenal Gökyldirim told a press conference in Istanbul on Thursday. The discount electronics chain is looking to take advantage (more…)

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Fake Russian cheese floods shops in wake of EU import ban

Fake Russian cheeseFake Russian cheese: Almost four fifths of the cheese on sale in Russian shops is fake, the country’s health and safety watchdog Rosselkhoznadzor claimed last week, as local producers capitalise on increased demand by substituting palm oil for milk.
Sales of domestically produced dairy goods have (more…)

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H&M to open Russian online store as sales jump

H&MSwedish clothing brand H&M is to launch an online store in Russia this fall to capitalise on rising sales, it announced this week as recession and inflation push year-on-year sales of its competitively priced clothing ranges up 15%. H&M has also opened 15 new stores in Russia since the beginning of the year, taking its total to 86.

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IKEA plans further expansion in Russia and China

IKEA ChinaThe Ikea Group  is to continue expanding in Russia and China after increased sales in both countries fuelled an 11% increase in overall sales over the past year, its CEO Peter Agnefjaell told Bloomberg this week. The Swedish retailer’s sales for the 12 months up to August (more…)

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Euroshop plans 2,000 fixed-price stores across Russia

Euro ShopGermany’s Euroshop is to launch a chain of fixed-price retail outlets across Russia as the country’s economic downturn stimulates demand for low-price stores. The new chain of stores will operate under the Euroshop name and will be run under franchise by Euroshop Russland.
The first outlets will be in the (more…)

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Russian watchdog slaps ban on Western washing powders

washing powderRussia’s consumer-safety watchdog Rospotrebnadzor this week announced that it was slapping a ban on the sale of some Western washing powders and detergents, including brands owned by Procter & Gamble, (more…)

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Russia accuses Auchan of health and safety violations

Irina Yarovaya, Head of Duma Security CommitteeIrina Yarovaya, head of the Russian Duma’s state security committee, this week called for Auchan and other retail chains to respect both the law and their customers by not offering “fake products and poison.” Her remarks (more…)

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Carrefour to open 15 stores across Kazakhstan

CarrefourFrench supermarket chain Carrefour is to open its first store in Kazakhstan in Almaty in October with 15 more stores to follow over the next 5 years. “The market is quite narrow, and there are not a lot of strong and stable players [with the exception] of Magnum,” de Buro real estate consultant Beimhan Muratbek told Forbes.kz “The market is not saturated and in any case Carrefour and Magnum offer different retail formats.” Kazakhstan’s relatively small population and the country’s vast geographical spread were going to be Carrefour’s biggest challenges, he predicted. 

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Tengelmann Group to roll out Plus stores in Russia by end of year

PlusGermany’s  Tengelmann Group today announced the schedule for the roll out of its Plus chain in Russia, with the branches of the food retailer due to start appearing on the streets of Moscow, Tula, Nizhny Novgorod, Kaluga, and Podmoskovye by the end of the year. The group – which already operates some 4,000 retail outlets across the country, including the Obi hardware chain – is planning to expand the Plus network to 150 stores by 2022.

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Russian McDonald’s to be launched by film director brothers

Russian Fim Director Andrei Konchalovsky

Andrei Konchalovsky

Russian film director Nikita Mikhalko

Nikita Mikhalko

Russian McDonald’s: Within a month of formally requesting state funding,  the brother film directors Andrei Konchalovsky and Nikita Mikhalko have been granted RUB1bn of government aid to launch a fast food chain that is being described as a homegrown alternative to McDonald’s.
Government backing for the Yedim Doma (Eat at Home) project was confirmed by Deputy Prime Minister Arkady Dvorkovichhy earlier this week. 70% of the cash needed for the chain will come in the form of a state-guaranteed loan, with the rest being raised from the private sector. The capital will go towards the development of two factory kitchens, 41 cafes and 91 stores selling prepared meals. Mikhalkov’s most famous production to date – and the most commercially successful post-Soviet Russian film so far – is the 1994 Burnt by the Sun, which won the Grand Prize at the Cannes Film Festival and the Academy Award for Best Foreign Language Film. Konchalovsky’s House of Fools won a Grand Special Jury Prize at the Venice International Film in 2002.

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Harvey Nichols opens Baku store – its largest outside London

Globus Shopping Mall Baku

Globus Shopping Mall Baku

Harvey Nichols has opened a seven-floor 120,000 m² in Baku’s Globus Plaza – its largest outside London. “Baku has become very fashion conscious in recent years,” commented Akshin Ibishov, the Director of Perfomans, the luxury retailer’s exclusive licensee in Azerbaijan. “The opening of Harvey Nichols will help Baku consumers to snap up the most stylish brands straight from the catwalk. We will also be offering our customers personalised VIP services like personal shopping and style advising services.”
Between 2000 and 2010 Azerbaijan had one of the fastest growing economies in the world and, according Euromonitor Internationalthe number of affluent people in Azerbaijan has more than quadrupled over the past five years since then. 

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Lenta hypermarket chain raises $225m for expansion drive

Lenta CEO Jan Dunning

Lenta CEO Jan Dunning

Russia’s Lenta budget hypermarket chain today announced that it had completed the placement of 35.2 million global depositary receipts (GDRs) at $6.40 apiece, providing it with $225m to accelerate the pace of expansion. 
Lenta plans to open at least 25 hypermarkets and between 10 and 15 new supermarkets this year, as the recession drives Russian consumers to look for cheaper goods.
 Lenta’s CEO Jan Dunning welcomed the new shareholders and said that Lenta’s low prices and low-cost business model, strong sales and results had helped put it in a strong position to capitalize on growth opportunities in Russian food retail. “With this further acceleration in new store openings, we expect to comfortably exceed our target of doubling net selling space over the three years ending December 2016,” he said.
 A source close to Lenta said that the Russian Direct Investment Fund, which had been instrumental in arranging the placement, had helped attract investors from the Middle East, Asia and Europe.

 
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IKEA closes Russian website through fear of breaking ‘gay propaganda’ law

IKEA Family Live magazineIKEA drops Russian website: Ikea is closing its lifestyle website and magazine IKEA Family Live in Russia over fears it could be flouting the controversial law banning “propaganda of non-traditional sexual orientation among minors.” The magazine, which is published in 25 countries in print or online, features photos and interviews about real-life families’ interior decor “whatever their gender or sexual orientation,” Ikea’s press service explained. In 2013, (more…)

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Adidas to close 200 Russian stores as economic crisis bites

Adidas RussiaGerman sportswear manufacturer Adidas yesterday announced that it would be closing 200 of its 1,000 Russian stores on account of the rouble’s dramatic devaluation and the effect that the country’s economic crisis was having on consumer spending. “Being the clear market leader, we have been particularly impacted by the economic downturn, deteriorating consumer sentiment,” the company’s CEO Herbert Hainer said. 

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El Dorado plans to open 50 new stores as crisis forces competition to contract

El DoradoEl Dorado plans to open 50 new stores: El Dorado, Russia’s largest retailer of consumer electronics and household goods has been entrusted with RUB 7bn by its Czech owners to expand, just as Russia’s economic crisis (more…)

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Lotte Group pledges $1bn investment in Russian retail and hotel sectors

Atrium Shopping Mall MoscowLotte Group, the South Korean multinational food and shopping corporation, this week pledged to invest up to $1bn in Russia’s hotel and retail sectors and is in negotiations to acquire the 103,000 m² Atrium shopping centre in Moscow’s Garden Ring near the Kursk railway station. It is also planning to develop a $140m hotel in St Petersburg and to capitalise on the opportunities that it predicts will arise in the wake of the current economic crisis.  Lotte already owns a shopping centre on the capital’s Novinsky Boulevard. 

 

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