MOSCOW German retailer Metro (MEOG.DE), which currently has more than 200 franchise stores in Russia, plans to increase that number tenfold by 2020, Jere Calmes, the new chief executive of Metro Cash&Carry Russia, said on Wednesday.
"We are testing what works well and what doesn't in 2017. Then we have giant plans for 2018-2019 - to open 10 times more stores, more than 2,000 stores," Calmes told reporters in Moscow.
Metro Cash&Carry Russia is currently focused in the Moscow and St Petersburg regions. That will remain the case, although it could also enter new regions, Calmes said.
(Reporting by Olga Sichkar; Writing by Polina Devitt; Editing by Mark Potter)