Wal-Mart today (4 May) indicated that it is still seeking an “appropriate” means to enter the Russian market, refusing to rule out either the possibility of acquiring a local chain or opening its own stores in the country.
According to a report in the St. Petersburg Times, Wal-Mart has shifted its strategy in Russia to focus on the possibility of expanding organically by opening its own outlets in high-density residential areas.
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However, a spokesperson for the group insisted that the company is still evaluating all potential routes into the market.
“We believe the Russian market holds promise, which is why we established a Moscow office and organisation to identify the appropriate means and timing to enter the market,” the spokesperson said.
Wal-Mart established its office in Moscow in 2008 to study entry into Russia.
Wal-Mart has been repeatedly linked to the possible acquisition of a number of Russian retailers, including Lenta, Kopeika and Karusel. However, no deal has been forthcoming.
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