DUESSELDORF - German cash-and-carry giant Metro AG will expand its Metro Cash & Carry chain to Russia. The company has already revealed plans to enter Slovakia this fall and Vietnam in 2001. With the addition of Russia, Metro increases its international coverage to 24 countries.
The first cash-and-carry outlet in Russia will open in 2002. The company plans to have six stores in the Moscow area by 2005. "The size and the potential of the Russian market presents an important opportunity for the international expansion of our cash-and-carry business," says Hans-Joachim, Metro CEO.
Metro has more than 2,000 outlets worldwide. In 1999, the company had revenues of about $40 million, 40% of which were generated outside Germany.
Copyright August 2000, Crain Communications Inc.