Thus, the company has two lands in Kishinev where it plans to open stores in 2016.
“We are analyzing other markets as well, but we haven’t taken a decision yet. We are looking 360 degrees around Romania and won’t cease developing,“ said Dragos Paval, attending the inauguration event of two tennis grounds that the company financed within Bucharest-based Ion Tiriac Sports Complex. Paval has not mentioned what are the markets the company could expand on.
Paval said the local DIY network, which has experienced several transactions and closedowns over the past years, is far from being consolidated.
“The DIY market will probably witness a strengthening process over the next years, which we will not be a part of. The company is not interested in acquisitions on the local market.“
On the local market, Dedeman targets a number of 50 units over the next two years, from its existent 41-units network. It targets the local county seats that hasn’t covered yet, such as Oradea or Zalau, but it equally takes into account smaller cities with satellite townships.
The company aims to reach a 6-unit network in Bucharest after completing the construction works at a unit northern Bucharest and in Pantelimon district.
Unlike other retailers in the DIY sector, Dedeman purchases the land to expand its network instead of renting it, to prevent eventual changes from the lessors.
Dedeman posted 3.4 billion lei (EUR757 million) revenue and RON416 million net profit in 2014, according to Trade Registry data. It had more than 7,500 employees last year.
In 2015, Paval eyes higher financial results, without providing any forecast. Dedeman employs 8,000 people. It competes with Praktiker, Brico Depot, Leroy Merlin or Hornbach.
(English version by Manuela Panescu)