Euroset to reduce store network in Ukraine

Russia-based mobile phone retailer Euroset has announced plans to reduce its store network in Ukraine. The retailer has already halved its number of outlets from 400 in 2008 to approximately 200 at present. By the end of this year, the retailer aims to further close up to 50 stores.

Euroset President and CEO Alexander Malis confirmed the reduction and said: «The profitability of business in Ukraine is generally lower than in Russia and Belarus.» Euroset closed its branches in Armenia and Kyrgyzstan in 2010.