Official: Auchan to invest 30 bln rbl in Russia in 2017

MOSCOW, Oct 12 (PRIME) -- French retailer Auchan plans to invest 30 billion rubles in Russia in 2017 after a 15 billion investment in 2016, Auchan Holding CEO Wilhelm Hubner, said on Wednesday.

“We invested 200 billion rubles in Russia over the past 14 years, and we think we will invest 30 billion rubles in 2017,” Hubner said.

He also said that Russia’s consumption structure has changed lately. “People try to buy cheaper things, and this affects our trade volumes. We lost 1.4 billion rubles over the last two years.”

(62.1946 rubles – U.S. $1)

End