West Park Retail also hosts outlet-type shopping center Fashion House Outlet Center, German do-it-yourself retailer Hornbach and Austrian-held furniture and home decor retailer Kika.
With the opening of the new unit, which covers 11,460 square meters, Jumbo reaches three stores in Bucharest and one store in each of the following towns and cities: Timisoara, Arad, Ploiesti, Pitesti, Constanta and Suceava.
The Greek retailer continues its strategy aimed at expanding its business in Romania, which had already been announced in a financial report last year. The strategy also aims to triple the number of stores in Romania in the next five years. Sales toward Romanian buyers have the biggest growth rate of all markets on which Jumbo operates.
Jumbo posted a turnover of RON268 million in Romania in 2016, up 23% versus 2015, and the number of employees stood at 559, according to Finance Ministry data.
The company’s main shareholders include, among others, investment fund Fidelity Management, with a 9.59% stake, Norway’s sovereign wealth fund with a 2.99% stake and Vangurad Group with 2.01% of the shares.