Profi, the network of discount stores, a member of French group Louis Delhaize, expects turnover to go up by 30% in 2008. The estimate includes the projected sales of Albinuta, a network the French group acquired this year. Thus, the retailer is likely to reach turnover worth more than 140 million euros in 2008.
Profi entered the Bucharest market this year by taking over the nine Albinuta stores from Lithuania's Maxima LT retailer in a 6-10m-euro deal, market sources said. The French network is set to expand in Bucharest next year with its own brand, Profi, planning to open a store in Militari district in February. Investments in this unit, to be located in a rented space, are put at 0.5-0.6 million euros. The first Profi store in Bucharest will have an area of 700 square metres.
Profi has not rebranded Albinuta stores, but did change their offer and displayed its own label products in the units. Profi and the Cora hypermarket network, part of the same group, hold a joint procurement platform, Provera Romania, and several own labels, such as Winny.
The company plans to open at least 10 new stores next year, of which four in Bucharest, and also in Focsani, Slatina and Targu Mures. Investments per new store stand at approximately 0.8 million euros, for a sales area of 450 square metres, and at 1.2 million euros in the case of units with a sales space of 750 square metres.
Profi Rom Food currently operates 35 Profi stores, mainly located in cities from Transylvania and Banat, and nine Albinuta supermarkets. In the long term, the company plans to create a network covering all the cities with at least 20,000 inhabitants. The company's expansion policy also envisages new store takeovers.
Profi Rom Food sales will go beyond 110 million euros this year, according to the company's estimates, almost double the value registered in 2006.
Last year, the company posted turnover worth 156.7 million RON (44.5 million euros), while Albinuta Shops, controlled by Maxima LT at that time, reached turnover worth 81.4 million RON (23 million euros), according to data sent to the Ministry of Economy and Finance.
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