Moscow-based grocery retailer Paterson is aiming to increase its revenues by 400% in the next four years to reach a target of US$500m by 2006.
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This year Paterson, whose outlet chain serves an average of 3,500 customers each day, has projected revenues of $90m, a significant rise from last year’s $35m.
As part of its plan, the company wants to increase the number of stores it has from the current total of 13 to 55-60 stores by 2006, through an investment of $80m. The company has already invested $30m in its chain, and plans to open four more stores later in the year. Paterson then aims to invest $7m next year in a further ten new stores.
