ERJ staff report (DS)
Moscow - Russian tyre maker Cordiant has announced plans to set up a chain of 30 franchised retail stores in Russia by the end of 2012.
The company said that by 2015, the chain is expected to comprise over 200 tyre stores. Cordiant expects to invest over Rbl 250 million (euro 6.4 million) in the venture. The retail arm is expected to contribute 30 percent of revenues by 2015.
Already the first three centres are open in the cities of Novocheboksarsk, Orenburg, and Krasnodar. Next month will see stores opening in Belgorod, Krasnoyarsk, Yoshkar-Ola, Balakovo, Cheboksary and Kirov. Cordiant said tyre store managers will be able to offer multi-brand strategies.
Cordiant is the new name of the former Sibur-Russian Tyres operation which has since been spun off into a management buy-out.
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Press release from Cordiant (Russian language)
Above story auto-translated (from Russian language)