Retailers in Russia are bracing themselves for the probably entry of Wal-Mart into the market, after a series of moves that has seen the US giant set down roots in the country.
The group has an established office in Moscow, has hired an executive to explore business opportunities and last year joined a Russian retail lobby group, with Vincent Trius, CEO of Wal-Mart Latin America, telling press that the group sees 'huge potential' in the country.
'Wal-Mart is obviously interested in the Russian market and will enter it soon,' Lev Khasis, chief executive officer of Russia's leading grocery retailer X5 Retail Group, told reporters at an economic forum. 'They have ambitious plans regarding Russia.'
The group said this week that it is in a good position to make acquisitions in markets across the globe, with opportunities earmarked in Latin America and Asian markets in particular.
'We're clearly very actively looking at possibilities,' said Wal-Mart International CFO Wang Ling Martello at a media conference this week.
