O'Key Group Aims To Emulate Lidl To Fill Russian Retail Niche
O'Key hopes that its Russian discounters can mirror the rise in Europe of German-owned chains Lidl and Aldi, as Russian consumers count their pennies, its chief executive said.
Russia's economy has returned to growth after two consecutive years of recession sparked by a drop in oil prices and sanctions, but shoppers are watching prices closely.
"Price starts to be more important, but this is part of the education and development of clients, not because they have less money," Miodrag Borojevic told Reuters in a recent interview.
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