German retailer Metro has said it has opened its first Metro Cash and Carry wholesale store in Kiev, the Ukrainian capital.
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Metro now has operations in 27 countries, and its Metro Cash and Carry wholesale division is present in 25 countries, reported Dow Jones Business News.
“The internationalisation of the Metro Group is progressing swiftly. We are the first major international trading company which is operating in Ukraine,” Hans-Joachim Korber, Metro’s chairman and chief executive officer, was quoted by Dow Jones News as saying. “With 48.5 million inhabitants and a continuously rising purchasing power, Ukraine holds an enormous market potential for Metro Group.”
The company has invested €15m (US$16.6m) capital in its first Ukrainian cash and carry, and plans a network of seven stores in the medium term.
Metro said that it would open its first cash and carry store in India in October 2003.
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