Wal-Mart makes its withdrawal from Russia

Wal-Mart announced the closing of its office in Moscow, opened in 2008.

With absence of potential partners, Wal-Mart says it can not build operations in Russia.

Its projects have not materialized. The acquisition of the chain Kopeyka has been blown away by the Russian chain X5 Retail Group Pyaterochka.

"Since there is no partner for the short term, there is no reason to keep our representative office in Moscow, "said Doug McMillon, Wal-Mart International. But the company will continue to seek opportunities.

Russia is a special case for the retail giants. After the departure of Carrefour Group in 2009, the 2nd largest retailer in the world is now the No. 1 worldwide to make its withdrawal from Russia.

Source: Wall Street Journal