X5 Retail and Perfumes Planet Switzerland in joint venture

X5 Retail, Russia’s largest retailer in terms of sales, and Perfumes Planet Switzerland, have set up a joint venture.

The two companies will develop perfume selling points adjacent to X5’s food retail stores in Moscow, St Petersburg, Nizhny Novgorod and respective regions.

PPS and X5 will own 80% and 20% of the joint venture respectively.