Euroset, Russia's largest mobile phone retailer with 5150 outlets and 23% market share, has no president (nor financial director) after Aleksey Chujkin did not have his contract renewed. Discussions are currently underway with AFK Sistema and VimpelCom (Beeline brand) who may buy a stake in the retailer.

Euroset, a $5 billion company, sold 12.6 million handsets in 2007 at an average price of $201, or 6.1% more than in 2006.

Euroset has also been looking for a financial director since last month.& Continue reading...

Wal-Mart and Carrefour (and others such as investment fund TPG Capital) are reported by Moscow Times to be preparing bid for control of Russian retailer Lenta.

Lenta runs 26 hypermarkets across Russia, has 8 sites under construction, and proposes a plan to open 10-15 new stores a year for the next three years.

The privately owned St. Petersburg-based chain is holding a tender for the sale of a controlling stake. Any buyer is in for a ride if you have been following the shenanigans of the Lenta owners. Continue reading...

Analyst and Consultant for Russian IT

Search and confiscation of accounting documents in Eldorado’s Moscow headquarters by agents of the Russian Federal Tax Services sent shock waves throughout Russian retail business circles.

The main question on everyone’s mind is: Who will be next?

Eldorado sells through 1100 Eldorado stores in Russia. Eldorado also owns 6 superstores under ETO brand name, 450 salons of mobile communication and 40 stores in Kazakhstan under the brand Sulpak. The turnover Continue reading...