Auchan not planning to change strategy or operations in Russia

MOSCOW. April 16 (Interfax) - Auchan Retail Russia has no plans to revise its strategy or operations in Russia, and the company denied rumors it was exiting the Russian market, a press release said.

"The change of primary shareholder, as well as any other structural or organizational changes occurring in third-party companies, do not in any way affect the activities of the Auchan in Russia. Auchan Retail Russia confirms that it does not plan to revise its strategy or operations in Russia and is continuing to implement its set goals. The company is not only not closing, but is in fact planning to develop a number of areas to expand its scope of activities and increase profits," the statement says.

Auchan Retail Russia is the Russian division of French Auchan Retail (part of Auchan Holding). The retail chain has been operating on the Russian market since 2002. The statement said that Auchan Retail Russia has been operating on the Russian market independently from its parent company since 2023.

Auchan LLC RAS revenue decreased 4.7% YoY to 226 billion rubles in 2023, while net profit decreased to 460.2 million rubles from 4.7 billion rubles in 2022.

The Sitras Company, which is part of the French Auchan group (owns and operates shopping malls), changed its owner to Trading Galleries LLC on April 12, 2024. The company is owned by Tagir Shaimardanov.

"The change of primary shareholder, as well as any other structural or organizational changes occurring in third-party companies, do not in any way affect the activities of the Auchan in Russia," the release said. The division of the ownership rights to Auchan real estate in Russia occurred in 2012. Since that time, the ownership rights to shopping malls in Auchan's own properties have been registered in the name of another company. Meanwhile, both companies currently continue to remain co-owners of common real estate assets. "The change of primary shareholder, as well as any other structural or organizational changes occurring in third-party companies, do not in any way affect the activities of the Auchan in Russia," the company's press release said.