Wal-Mart, the world’s largest retailer, has joined the Russian Retail Association as it continues to position itself for entry into the Russian retail market.
Go deeper with GlobalData
A spokesperson for the retailer confirmed today (2 January) that the company joined the retail lobby group following its appointment of Dr. Stephan Fanderl to investigate expansion possibilities in Russia and neighbouring markets in April.
“We joined the Russian Retail Association this summer,” the spokesperson said.
However, Wal-Mart declined to provide a timescale for its long-anticipated entry into Russia. Nor would the spokesperson comment on whether it is considering buying up a local retail chain.
According to a Reuters report, which cited an unnamed investment banking source, Wal-Mart is currently in takeover talks with Russian retailers in need of a cash injection.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe Russian retail sector has been hit by the global economic crisis as credit becomes more expensive and harder to come by. This has triggered speculation that the pace of consolidation in the market will quicken, as heavily indebted players are squeezed out.
