Great potential in Russia

The German DIY retailer Obi intends to open 15 new stores altogether this year. “The focus of our expansion is still on the key markets of Germany, Italy, Russia, Poland and Austria. For us Russia in particular is a market with great potential,” said Karl-Erivan W. Haub, managing director and general partner of the parent company Tengelmann, at the results presentation. Last year the German DIY market leader recorded sales of € 6.87 bn, which amounts to an exchange-rate adjusted increase of 2.9 per cent on the previous year. The company operates 585 DIY stores in 13 countries of Europe, 344 of them in Germany.