The French hypermarket chain "Auchan" (Auchan) has decided to withdraw from Russia, reports the magazine La Lettre. According to its information, the company has already found a buyer for its Russian business and is in the final stages of negotiations. The chain also plans to reduce its operations in Hungary but will remain in Ukraine, notes the publication.
The "Auchan" company holds nearly 23% of the "Other Retail Trade in Non-Specialized Stores" market, with a total market volume of ₽1.04 trillion annually. According to Le Figaro, "Auchan" has two potential buyers, though the newspaper does not specify who they are. As the reason for leaving Russia, a source close to the company cited "the deterioration of local working conditions."
"Unlike other, less cautious European distributors, "Auchan" strictly complies with the sanctions imposed on Russia. It neither invests nor repatriates a penny, placing it at a significant disadvantage compared to local players," a source told the newspaper.