Goodyear Steps Into Russian Retail

Goodyear has taken its Premio franchise to Russia, opening its first store on 10 November. According to a Kommersant report, the company hopes to sign up around a dozen stores in Podolsk, Kalinigrad, Omsk, Rostov, Volgograd and other Russian towns before the end of the year. The establishment phase of the Premio chain is expected to be completed by 2008 Konstantin Alexeev, retail development manager at Goodyear Russia told the newspaper. The company reportedly invests $20,000 to $30,000 in the launch of each store, Alexeev explained.

By establishing a retail presence, Goodyear appears to be attempting to catch up with its competitors. Michelin, Bridgestone and Pirelli launched their projects as far back as 1999. Nokian Tyres set up its Vianor chain, while earlier this Autumn Amtel acquired more than 40 having bought out three Moscow retailers – Rosshina, Koleso, Profil.