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Russian chain aims to challenge Wal-Mart
United States
Wednesday 25 January 2012
MD
The founder of Russian chains Pyaterochka and Karusel plans to enter the United States with a discount supermarket chain to rival Wal-Mart.
A Russian businessman and founder of two supermarket chains, plans to open discount stores in the United States.
Andrei Rogachyov, founder of the chains Pyaterochka and Karusel in Russia, plans to open 60 stores in Florida in 2012. Then the goal is to reach 400 stores in 2016 and be able to compete with Wal-Mart.
The initial investment would be
$500 million and annual revenues of $1 billion are expected over the next 4 years. The name of the chain has not been announced, but the company has several trademarks: Okie Dokie-, Okey Dokey-, Doke, O'Key, O'kay, Real Buy Nearby, Good morning and Voila!.
source : ria novesti
