“This year’s investment budget is higher than in 2020, close to EUR100 million,” says Daniel Gross, CEO of German-held discount retailer Penny.
The company will reach the 300-store mark in Romania in 2021, which means 24 or 25 new stores besides a new warehouse.
Fast-paced development during the pandemic is no surprise considering seven of the ten modern retailers in the country opened new stores in 2020. In all, 421 hypermarkets, supermarkets, modern convenience, discount and cash & carry stores opened in 2020, which was the second best year for expansion after 2019.
Several networks – Kaufland, Lidl, Penny, Mega Image and Profi, will go ahead with development plans despite the COVID-19 pandemic in 2021, moving at least as fast as last year.
Auchan, Selgros, Cora and Carrefour officials did not return ZF’s calls for comment on this year’s expansion plans.
“This year’s investment budget is the same as last year and will mainly go towards the expansion of the store chain and the inauguration of a distribution center in Craiova,” says Calin Costinas, deputy CEO of Profi, without providing any figures. The investment budget stood at EUR100 million in 2019.
The highest such budgets in 2020 were Kaufland’s (EUR300 million) and Lidl’s (more than EUR200 milion).
(English version by Loredana Fratila-Cristescu)