Contact us

Support


Home > Investment tools > They choose Russia > OBI Group Holding SE & Co.KGaA

OBI Group Holding SE & Co.KGaA

The German home improvement and gardening product company OBI will invest over $300 million expanding its Russian branch over the next three years, OBI Russia CEO Ivan Strickland told Kommersant Thursday.

"In the next three years we are planning to open 18 more stores. This is real," CEO Strickland said.

According to Strickland, OBI is going to open five-six stores a year over the next three years. Twelve new stores will be opened on rental properties, the remaining six will be built from the ground up by OBI.

The cost of one purpose-built OBI retail space is estimated at $24 million to $37 million, whereas the cost of refurbishing a rental property is about $8.5 million, the company representative said.

OBI opened its first two retail stores in Moscow in 2003. There are currently 24 stores in Russia. OBI operates 570 stores in 12 central and eastern European countries.

03 December 2014
Sputnik
Investor

Investor profile

OBI Group Holding SE & Co.KGaA

Germany

Company's website: www.obi.com

Private company

E-mail: info@obi.de

Contact: Sergio Giroldi, CEO

OBI is one of the leading European DIY brands. Currently, the company operates more than 500 stores, thereof more than 330 in Germany and more than 200 in 13 Central and Eastern European countries. OBI stores generate total sales of more than EUR 5 billion, employing more than 38.000 staff.

Subscribe to Newsletters

Email: