M.Video planning to open 20 stores in 2010

Russia-based company M.Video plans to open 20 stores in 2010, M.Video President Alexander Tynkovan said. The company has already opened ten stores this year and will open 15 to 23 more outlets by the end of the year. Investment in one store totals around RUB50-55 million (USD1.6-1.7 million). Commenting on projections that the Russian electronics market will contract by 20% to 25% this year, Tynkovan concurred with the forecast, although he said demand is still being seen for more expensive brand-name products.

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