German discount hypermarket chain Kaufland has finalised
investments of around 70 million euros in expansion this year,
close to the cumulated value of its rivals' expansion budgets for
2010.
The operator has so far opened eight new stores, bringing them
to an overall 53 stores, with the recruitment pace suggesting that
the 2010 expansion will continue with at least 5 or 6 new stores in
the second half of the year. Having been fuelled by a 150
million-euro loan from the EBRD last year, Kaufland's local
investment budget could amount to nearly 130 million euros in 2010,
twice as much as budgeted by all its rivals on the hypermarket
segment. Moreover, the Germans are investing on the Romanian market
more than they had in the 2008-2009 period that followed the peak
expansion and consumption in the year Romania joined the European
Union.
On the other hand, the other four hypermarket operators on the
market - Carrefour, Real, Cora, and Auchan, have only one expansion
project for this year. Their cumulated investments could amount to
80-90 million euros.
The retailer, held by LIDL & Schwartz group, has focused
its openings on small, provincial towns this year, with less than
50,000 inhabitants, such as Mioveni, Reghin, and Campulung.
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