The Real hypermarket chain intends to expand in the wake of 80million-euro investments per year after 2010 and double its numberof hypermarkets in Bucharest, to eight over the next few years.
"The crisis has not had any impact on our strategy on theRomanian market," said French-born Michel Lamoot, general managerof Real Hypermarket Romania.
However, the retailer's expansion will slow down to a rate of1-2 new stores in 2010, after four years in which the Germanoperator opened 24 hypermarkets in the wake of 520 million-euroinvestments, a record level in trade.
"This year we will probably complete 40 million euros ininvestments, half as much as in 2009. This slowdown has to do withtechnical reasons: the real estate market froze, and things arestill quiet here. We are currently actively seeking locations forexpansion over the next few years," Lamoot specified.
The retailer is opening its fourth store in Bucharest today, inthe Policolor area in eastern Bucharest, following a 23million-euro investment. This could be Real's only opening in 2010,considering that the chain has no other store under construction atpresent. Lamoot specified there was, however, an expansion plan forthe end of this year or for the beginning of 2011.
"We could double our Bucharest chain," added the Real manager.
The opening of another four Real stores in Bucharest couldentail investments of around 100 million euros over the next fewyears.
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