Representatives of the investment companies, which belongs to the Russian oligarch Mikhail Fridman LetterOne (L1), announced today that the company is going to invest about $3 billion in retailers. According to the plan, the L1 will start with Europe, further it is expected the UK and then the emerging markets. Russia is not included in this list.

Stephan Ducharme will head the new unit L1 Retail, that will do it. Previously Ducharme was Head of the directors board in the largest retailers in Russia - X5. Now he is non-executive chairman of the corporation. L1 the Corporation is planning to start working with the most promising retailers who in the future may become market leaders. These companies pay special attention to competent analytics and logistics.

LetterOne has recently established a new institution in the United States - L1 Health. They are committed to invest in the global healthcare sector to $3 billion over the next three years.