June 3 (SeeNews) - Russian electrical goods retailer Eldorado, owned by Czech investment group PPF, said on Thursday it plans to open three stores in Moldova.
Eldorado will open three stores of 2,000 sq m each in Moldova's capital Chisinau, the company said in a press release.
Besides Moldova, the retailer plans to expand in big cities in Kyrgyzstan, Armenia and Kazakhstan.
"To date, we have significantly expanded in Russia, but we decided not to stop there and started franchising in some countries where our brand is known," general director Mikhail Nikitin said.
Moldova has several household appliances and consumer electronics retailers such as Foxmart, Bomba, Accent Techno and Tina.
In 2011, Czech group PPF has bought Eldorado for some $625 million (557 million euro).
Eldorado's sales were up 26.8% on the year in the first quarter of 2016 to 32.2 million rubles, data on the company's website showed.
As of March 31, Eldorado's network includes 410 retail hypermarkets with a trading area of 581,794 sq m.
($=0.8926 euro)