Auchan denies opening new store in Russia, says rebranding existing one

PARIS (Reuters) - French retailer Auchan on Sunday denied it was opening a new store in Russia, a market where it has maintained a presence since Russian President Vladimir Putin invaded Ukraine, and said it was instead re-branding an existing store.

Reuters reported on Thursday that Auchan planned to open a new store that would sell almost exclusively private label goods, citing a statement by Auchan Retail Russia.

"Auchan is not opening new shops or creating new sales areas in Russia," Auchan said in a statement.

Numerous western retailers have shunned the Russian market over Moscow's actions in Ukraine. Auchan said it had stopped all investments in its Russian subsidiary.

"Auchan Retail respects the terms of the current embargoes and sanctions to the letter, and operates within the strict framework of the law," it added.

(Reporting by Benoit Van Overstraeten; Writing by Richard Lough; Editing by Lisa Shumaker)