French retailer Auchan has denied it is opening a new store in Russia, a market where it has maintained a presence since Russia's invasion of Ukraine, instead saying it was re-branding an existing store.
Reuters reported last week that Auchan planned to open a new supermarket that would sell almost exclusively private label goods, citing a statement by Auchan Retail Russia.
'Auchan is not opening new shops or creating new sales areas in Russia,' Auchan said in a statement.
Numerous western retailers have shunned the Russian market over Moscow's actions in Ukraine. Auchan said it had stopped all investments in its Russian subsidiary.
'Strict Framework Of The Law'
'Auchan Retail respects the terms of the current embargoes and sanctions to the letter, and operates within the strict framework of the law,' the retailer added.
The group said that it did change the branding of one of its stores in Moscow, to My Auchan, however this does not mean it plans to 'open new stores or create new sales areas' in the country.
Auchan's decision to maintain its presence in Russia prompted Ukraine to call for a boycott of the chain as other global brands, such as McDonald's and Nike, pulled out.
Auchan has previously stated that ceasing its activities in Russia would be a 'premeditated bankruptcy', leading to an expropriation of its business 'that would strengthen the Russian economic and financial ecosystem'.
It added that it would remain loyal to a 'population that has no personal responsibility in triggering this war'.
Read More: French Retailer Auchan To Open Private-Label Store In Russia
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