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Retailer Leroy Merlin to invest $500m in Russia
January 30, 2013, 1:51 pm

Tver, Russia. [Getty Images]

Tver, Russia. [Getty Images]

French retailer Leroy Merlin is opening its first hypermarket in the Tver region of Russia.

After establishing themselves in several major Russian cities, the group says it has plans to build another 15 hypermarkets across the country.

The expansion plans will cost around $500 million and the company sees good potential in the Russian market.

Stores will be opened in Tula, Lipetsk, Kalga, Ivanovo, Briansk, Belgorod, Vladimir, Orel, Smolensk, Kursk, Stary Oskol and Ryazan, all of which have populations of more than 400,000.

Leroy Merlin is the fourth-largest company in the world in the DIY industry and already has 23 shops in 12 Russian cities.

Globally, the French retailer owns 360 hypermarkets in 10 countries; the first Leroy Merlin store in Russia opened in 1998.

According to the company’s statement, Leroy Merlin intends “to have all countries in which we operate benefit from the discoveries and learning experiences gleaned in our locations in other countries.”

Russian customers can “discover Spanish products, or the people of Brazil gain decorating ideas from France.”

In 2011 the company said its turnover in Russia totalled almost 1.2 billion euros.

Daria Chernyshova