Mega Image, Bucharest's biggest supermarket network, stepped into the black last year, after the company registered financial losses worth 2 million euros in 2006.
"The rising number of customers and an increase in the average shopping basket helped us step into the black last year. Sales under comparable conditions (not including network expansion) rose by over 20% in 2007 year-on-year," stated John Kyritsis, general manager of Mega Image Romania.
This year, he aims to maintain the organic growth rate at around 20-30%. Mega Image's Romanian sales could be estimated at over 85m euros in 2007, given the organic growth rate.
The company, owned by Belgium's Delhaize group, currently operates 24 Mega Image supermarkets, of which 21 are located in Bucharest.
This year, the group acquired La Fourmi's 14-unit network in Bucharest, in a deal worth 18.6m euros.
"We're awaiting the approval of the Competition Council to start rebranding La Fourmi network, a process I believe will last around six months," specified Kyritsis.
The company will integrate 400 La Fourmi network employees into Mega Image, and will thus have around 1,700 employees.
The value of investments in the refurbishment of the La Fourmi supermarkets, which the company took over from Greek investment fund Global Finance, were put by Mega Image representatives at 3-3.5m euros. Kyritsis also said the network would keep all La Fourmi stores, even though some of them are located very close to Mega Image supermarkets.
According to company data, the supermarket on 1 Mai of Bucharest boasts the biggest customer flow, of over 3,000 persons a day.
The retailer plans to build a logistic centre in Popesti-Leordeni, Ilfov county, where it has recently bought a 10-hectare plot of land. The warehouse will have an area that ranges between 40,000-50,000 square metres. Kyritsis puts logistics investments at over 5m euros, with the network to give up the warehouses it rented in western Bucharest after a new warehouse is finished.
The retailer also plans to open another three supermarkets in Bucharest this year. In the next two or three years, Mega Image network wants to reach 50 stores, through investments worth more than one million euros per store.
The most important direct rivals of Mega Image are Billa, Ethos and Primavara.
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