Patriciu starts retail offensive with Mic.ro kiosks

A colourful sign close to Perla restaurant in downtown Bucharest reads Mic.ro 1, signalling the first store of the network through which Dinu Patriciu is trying to "steal" the clients of district kiosks, as well as those of supermarkets. Inside, prices are a little lower than those of the nearby kiosks and a little higher than in hypermarkets. The firm's representatives are completely discreet. Unofficially, market sources say 20 retail space rental contracts have already been signed in all the areas of Bucharest and another 50 are being discussed. "The firm's plan for a year would be opening 300-400 stores," say retail market sources. Taking into account an average investment of 70,000-100,000 euros in fitting out each store, the total budget of this business would likely amount to around 30m euros. The stores are located in areas with a high population density. Amid the crisis, many small businesses have been closed, making hundreds of spaces in all the areas of Bucharest vacant.