Netherlands-based electricals buying group Euronics is to continue with its expansion in Russia, which had been put on hold because of the economic crisis.
In the middle of July, the retailer will open a new outlet in the Magnit shopping centre in the city of Vyksa. Euronics has also revealed plans to rebrand 10 Elektroniki stores and open five new stores by the end of 2011, investing USD200,000 to USD500,000 in each of the stores, depending on size. The rebranded Elektroniki stores will maintain their independence and control over the business but will benefit from better terms with their suppliers and strategy support.
In 2012, Euronics plans to open the largest consumer electronics store in Nizhny Novgorod, with a shop floor area of 5,000 square metres and over 30,000 SKUs.
Planet Retail
