Leroy Merlin to Invest RUB 1.5 Bln in New Russia Store
In spite of the downturn in the sector, countless new DIY stores continue to spring up in Russia. According to the market research company Infoline, 31 big box DIY stores covering an area of 250 000 m² opened in Russia during 2016. The record for store growth went to Leroy Merlin with 15 new stores, as compared with eight in the previous year.
Most of the new stores are in Moscow. Infoline managing director Ivan Fedyakov commented: "We have noticed that foreign retailers opened more stores in Moscow than in other cities in 2016. In the course of the year, the Leroy Merlin chain opened three new large-format stores, and Obi and Castorama opened one each."
In the same period, Leroy Merlin, Maxidom and K-Rauta each opened one store in St. Petersburg; the K-Rauta project was based on the acquisition of a former Metrika store.Source: http://www.diyinternational.com/home/news/article/250-000-m2-of-new-diy-retail-space-in-russia/