10.06.03
Procter & Gamble said it expects to reach $500 million in sales this year in the company's fastest growing market, Russia. Sales are expected to top $1 billion in the next two years and $3 billion in a decade, P&G Russian market chief Daniela Riccardi said. Experts said the potential for 50% growth in annual sales is unmatched in the West as is the pool of potential Russian customers.
"Russia has crossed the threshold for us, and we're expanding our business there," said P&G vice chairman Kerry Clark, president of global market operations for the Cincinnati, Ohio-based company.
P&G said it has already invested at least $200 million in Russia, such as $50 million in a state-run laundry plant in Novomoskovsk.
"Russia has crossed the threshold for us, and we're expanding our business there," said P&G vice chairman Kerry Clark, president of global market operations for the Cincinnati, Ohio-based company.
P&G said it has already invested at least $200 million in Russia, such as $50 million in a state-run laundry plant in Novomoskovsk.