The French Bresson Group, which holds the DIY chain Bricostore, and the Romanian Altex Group (operator of the electronics and home appliances chain Media Galaxy) will develop a two-level commercial project close to the Carrefour Orhideea shopping complex in Bucharest. The investment is estimated as standing at 15 million euros.
"The bulk of sales in the Romanian Bricostores is made between early spring and late summer. In the case of stores like Media Galaxy, the bulk of the sales is usually made in the last few months of the year. Therefore we will attract clients for Media Galaxy during the spring and they will attract clients for us during winter," said Philippe Bresson, chief executive of the Bricostore Group, explaining the concept that is set to benefit both of the two stores.
The officials from the two companies say Bricostore will take up 10,000 sqm (7,000 sqm of which will account for the actual commercial area), while Media Galaxy will take up 6,000 sqm (5,000 sqm being the commercial area). Investments will be therefore distributed accordingly, with 10 million euros being sourced from Bricostore and 5 million from Media Galaxy.
The project is located close to the Orhideea shopping complex, which includes a Carrefour hypermarket and a shopping gallery. Located inside the city, close to the Regie student campus, the Orhideea shopping centre has allowed both the Carrefour hypermarket and the stores in the shopping gallery to sell more than estimated since its opening more than nine months ago.
"We are counting on students to a certain extent, as they are very interested in IT products, as well as in electronics and mobile telephony," said Dan Ostahie, Altex Group chairman.
Construction works on the commercial projects are already underway, with the Bricostore officials saying the opening is scheduled for this autumn.
"If we can't open it by early in November, then we will postpone the opening until February next year," Ostahie added.
The Bricostore-Media Galaxy formula could be applied to further projects, the officials of the two companies say.
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