French retailer Auchan intends to invest 20-30 billion roubles ($328.7-493.1 million) annually into the development of their business in Russia, according to Jean-Pierre Germain, head of Auchan Russia.
"We have 20 to 30 billion roubles to invest per year," Germain said when asked a question regarding Auchan's planned investments in Russia.
Germain also noted that Auchan plans to open about 10 hypermarkets and 20 to 30 supermarkets every year.
According to Germain, Auchan has already invested 200 billion roubles ($3.29 billion) in Russia to date and has so far opened 100 hypermarkets and 170 supermarkets.
Auchan is a major French retailer that has operated in Russia since 2002. It currently operates three types of stores: hypermarkets, supermarkets and corner shops. Auchan also has an online store for non-food items.
Russia is Auchan’s third-largest market. The French retailer’s largest market is France, followed by China.