Nokian to open retail chain in Russia

Helsinki--Nokian Tyres has said its Vianor retail chain has opened 2 tyre retail outlets in Russia, and plans to extend this to 30 outlets during this year.

The first two outlets are in Rostov and St. Petersburg. In a statement, Nokian said, "Nokian Tyres will invest approx. EUR 10 million in establishing own Vianor outlets in Moscow and St. Petersburg. It is the target to open a total of 30, mainly franchising based Vianor outlets in Russia during 2005. Mr. Juri Melnik, a former importer of Nokian branded tyres, will manage the Vianor operations in Russia."

Nokian said it also bought two tyre shops in Sweden, Sjögrens Vulk AB and Degerfors Vulkcentral.. These will also under the Vianor name, said Nokian

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Press release from Nokian

AFX story