World

Wal-Mart Moves Closer to Russia

by Barry Artiste | January 18, 2009 at 09:01 am

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Barry Artiste Op/Ed

Average Russians used to McJobs and salaries of around 600 dollars US a month, will get a chance to work for one of the Worlds largest retailer. One would hope employee discounts for store purchases will allieviate the pain of slave wages WalMart is famous for.

Will local Russians see Wal-Mart in Red Square or the Arabat to compete with retail giant GUM and specialty boutiques like Armani and Prada? Not likely, as real estate is way too pricey even for Wal Mart. The nearby town Reutov most likely will be a saner choice, Reutov is an old armanents and space centre from the cold war and real estate is cheap and has a good subway system to Moscow.

Wal-Mart Moves Closer to Russia [q url="http://www.themoscowtimes.com/article/1009/42/373469.htm"]Wal-Mart, the world's largest retailer, has registered a legal entity in Russia and joined a local retailers' organization, the latest in a series of moves indicating its interest in expanding into the country.

The company registered a subsidiary under the name WM Eastern Europe Holdings and joined the Russian Association of Retail Trade Companies, or AKORT, which includes the 28 largest commercial organizations in the country.

"Wal-Mart is working on the Russian market," Ilya Belonovsky, the executive director of the 28-member industry group said Dec. 29. He declined to elaborate.

Members of the association include French retail giants Carrefour and Auchan, Germany's Metro, as well as local firms X5 Retail Group and Magnit.