13 Jun '08
Moscow-based retail outfit Ramo has announced plans to expand southwards by opening shopping and leisure malls in resort towns.
The firm, which has a chain of clothing and kitchenware shops, is to open four of its Red Square centers in towns including Sochi and Anapa in Krasnodar and Mineralnye Vodi in Stavropol.
Confirmed residents in the Mineralnye Vodi center include electrical retail giant M.Video and a branch of hypermarket chain Home Peace.
Total investment into the move has not been disclosed, though analysts said today the Sochi center would require around $21.3m.