GERMANY: Rewe mulls opening Penny supermarkets in Russia
German retail chain Rewe is reported to be considering opening between 15 and 20 Penny discount supermarkets in Russia’s Moscow Region.
Rewe will invest around US$1-1.5m in each store, excluding the price of leasing the land, reported Dow Jones International News, citing a report in a local daily paper.
Possible sites for the supermarkets are likely to be towns with populations of over 100,000 people. The stores will target customers with medium to low incomes.
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