MOSCOW, September 7. /TASS/. Fix Price, Russia's largest variety value retailer, is working to launch stores in the United Arab Emirates (UAE), with first stores expected to be opened next year, Chief Executive Officer Dmitry Kirsanov said.

"We are currently working to launch our stores in the United Arab Emirates, and we hope that the first Fix Price stores in the region will open their doors to customers next year," he was quoted as saying in the company’s report on 1H 2023 financial results.

In the second quarter, the retailer continued its international expansion with the opening of the first Fix Price stores in Armenia through the franchise program. "We see considerable potential to expand our brand in this promising market," CEO added.

Moreover, earlier this year Fix Price began operations in Mongolia with the opening of two stores in Ulaanbaatar. "Thus, we have expanded our brand presence to nine countries since the beginning of 2023," Kirsanov noted.