Content about Moscow

June 3, 2013

Tiffany & Co. plans to open a two-level shop in Moscow’s GUM department store, the city’s leading luxury shopping destination, located in Red Square.

NEW YORK — Tiffany & Co. plans to open a two-level shop in Moscow’s GUM department store, the city’s leading luxury shopping destination, located in Red Square. The 4,520-sq.-ft. space is the jeweler’s first wholly owned retail business in Russia, and is expected to open in the first quarter 2014.

June 3, 2013

Tiffany & Co. plans to open a two-level shop in Moscow’s GUM department store, the city’s leading luxury shopping destination, located in Red Square.

NEW YORK — Tiffany & Co. plans to open a two-level shop in Moscow’s GUM department store, the city’s leading luxury shopping destination, located in Red Square. The 4,520-sq.-ft. space is the jeweler’s first wholly owned retail business in Russia, and is expected to open in the first quarter 2014.

December 17, 2010

Walmart removed all doubt about how it intends to enter Russia this week when it announced the closure of its office in Moscow. The office was opened two years ago to investigate opportunities in the country, but international division president and CEO Doug McMillon said it no longer made business sense to maintain the facility.

“The Russian market is a compelling retail opportunity and we believe that Russian consumers could benefit from Walmart’s value proposition,” McMillon said. “Since we have decided to enter the market through acquisition, not greenfield development, and since there is no clear acquisition partner in the near term, there is not a business reason to continue our Moscow representative office. We will continue to pursue market entry opportunities.”

Walmart clearly wants to enter Russia, but it is less clear how the company defines near term when it refers to a lack of clear acquisition partners. Unless a compelling opportunity presented itself, Walmart is under no pressure to enter the country. It has abundant growth opportunities elsewhere in existing markets and two acquisitions to integrate in 2011 in the United Kingdom and South Africa.

Walmart removed all doubt about how it intends to enter Russia this week when it announced the closure of its office in Moscow. The office was opened two years ago to investigate opportunities in the country, but international division president and CEO Doug McMillon said it no longer made business sense to maintain the facility.

December 17, 2010

Walmart removed all doubt about how it intends to enter Russia this week when it announced the closure of its office in Moscow. The office was opened two years ago to investigate opportunities in the country, but international division president and CEO Doug McMillon said it no longer made business sense to maintain the facility.

“The Russian market is a compelling retail opportunity and we believe that Russian consumers could benefit from Walmart’s value proposition,” McMillon said. “Since we have decided to enter the market through acquisition, not greenfield development, and since there is no clear acquisition partner in the near term, there is not a business reason to continue our Moscow representative office. We will continue to pursue market entry opportunities.”

Walmart clearly wants to enter Russia, but it is less clear how the company defines near term when it refers to a lack of clear acquisition partners. Unless a compelling opportunity presented itself, Walmart is under no pressure to enter the country. It has abundant growth opportunities elsewhere in existing markets and two acquisitions to integrate in 2011 in the United Kingdom and South Africa.

Walmart removed all doubt about how it intends to enter Russia this week when it announced the closure of its office in Moscow. The office was opened two years ago to investigate opportunities in the country, but international division president and CEO Doug McMillon said it no longer made business sense to maintain the facility.

December 13, 2010

BENTONVILLE, Ark. - Wal-Mart Stores Inc. is closing its Moscow office but said it is still interested in the Russian market.

The retailer said that it has been looking to enter the Russian market through an acquisition, but has not found a near-term opportunity so it does not need the Moscow office at this time.

December 13, 2010

BENTONVILLE, Ark. - Wal-Mart Stores Inc. is closing its Moscow office but said it is still interested in the Russian market.

The retailer said that it has been looking to enter the Russian market through an acquisition, but has not found a near-term opportunity so it does not need the Moscow office at this time.

June 22, 2010

Walmart ended years of speculation today when president and CEO Mike Duke at a press conference in Moscow announced the retailer had acquired the 149 unit Stoli chain of Vodka superstores. The acquisition stuck industry observers as unusual, but Duke asserted that the deal made strategic sense for the company and fit with the company's strategy of saving people money so they can live better.