Tesco is understood to be considering opening its first stores in Russia, according to Bloomberg.

The newswire reports that Tesco has held talks with three property advisers in Russia, which has a rapidly growing US$191 billion (£95.66 billion) food retail market.

Tesco is looking for way to enter the market, according to Jeff Kershaw, senior director at the Moscow office of property giant CB Richard Ellis Group. Tesco is examining possible store sites said two people at other property firms, who asked not to be identified.

Tesco is understood to have considered potential franchise partners in Russia.

CBRE’s Kershaw said Tesco has not made a firm commitment about opening Russia, but is understood to have been considering entering Russia since 2005.

In Russia, Tesco would compete with X5 Retail – the country’s largest supermarket owner – Germany’s Metro and France’s Carrefour.

Tesco declined to comment. Tesco has operations in 13 countries, including the UK, US, China, Thailand and Hungary.

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