The retailer estimates that the move will cost£250 million and, initially, Kingfisher will double its four-store Castorama chain over the next year.
The decision to focus on growth in Russia is driven by a property boom in the country, with about 700,000 homes being built every year. There is also a strong drive to improve Soviet-era apartments as incomes continue to rise in most regions.
Kingfisher opened its first store in Russia in 2005, at Samara in the south of the country.
No comments yet