The German Tengelmann Group, already busy expanding DIY chain Obi in Russia, now plans to collaborate with Russian consortium RosEvro Group to open up a new discounter chain under the name Plus Discounters. This according to Russian newspaper 'Kommersant'.
The idea is to provide the company with a billion-Euro profit in 2020. Investment costs are thought to be around 500 million Euro.
Michail Dokukin, director of JV Plus Development, the subsidiary responsible for setting up the chain, confirmed the press release and added that all possible scenarios are looked into. Plus Development is primarily interested in supplying large cities like Moscow, Toela, Tver, Rjasan and Nizjni Novgorod.