DIY retailer Kingfisher has outlined plans for a GBP250 million expansion in Russia, just a year after opening its first store there. While some will see this is a risky strategy, when its fledgling stores have not had time to prove themselves, Kingfisher rightly counters that it cannot afford to miss out on Russia's retail revolution.
The UK-based Kingfisher is set to introduce a franchise model as part of its long-term growth plans, which are to be announced in the first quarter of 2011. This initiative will enable Kingfisher to expand quickly, reduce the impact of difficult trading conditions in the UK and increase its hold over the European market.
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