Tengelmann Enters Russia With Discount Banner In Russia

Tengelmann Group, the German retail company is to enter the Russian market with the roll-out of a discount banner entitled 'Plus'.

A spokesperson for the retail group said Tengelmann's focus will initially be on opening stores in the Moscow region. Just-Food reports that the group's new Russian arm aims to reach a sales turnover of €1 billion by 2020.

In 2011, the group had a total turnover of €10.78 billion, employing 83,437 people. Its 4,256 stores include the Kaiser's and Tengelmann supermarket chains. (11 Oct)

© 2012 - ESM: European Supermarket