Profi retailer, controlled by Enterprise Investors investmentfund, operating on the discounter segment, plans to go beyond themark of 100 stores in Romania, from 83 at present.
Profi shareholders' decision comes at a time when competition onthe discount segment, put by ZF at 1.8bn euros, is tightening asLidl, one of the world's biggest players on this segment, whichacquired Plus network, is entering the market.
"We want Profi network to have over 100 stores in Romania inDecember 2011," says Daniel Cîrstea, purchasing and marketingmanager with Profi, who does not rule out the opening of storesfrom scratch or taking over stores from other networks.
To hit its target, Profi must rely on more aggressive expansionthan last year's and open more than 17 stores, from 15 in 2010. Theretailer is likely to invest between 17 and 25m euros in thesestores, according to ZF calculations based on the averageinvestment per store. Profi representatives did not disclose theinvestment budget.
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