The world's largest retailer Wal-Mart has told just-style's sister site just-food that while it is watching the Russian retail market with interest, it does not currently have any plans to enter the sector.

"We are interested in the market," a Wal-Mart spokesperson said yesterday (13 January).

"We view it as a very attractive retail market, but we have no plans to enter it in the immediate future."

Local reports have suggested that the US retail giant has entered into talks with Russia's largest retailer, X5 Group, to enter the market through a joint venture.

However, Wal-Mart dismissed the recent flurry of publicity, explaining that the presence of a group of Wal-Mart executives who were speaking at a Russian retail conference has sparked media interest.

When asked whether it had been in talks with any Russian retailers regarding a partnership, the company said it was policy not to comment on rumour and speculation.

Media reports have recently linked X5 to various international retailers, including Wal-Mart, Tesco and Carrefour.