Lidl will open stores especially in towns with less than 50,000 residents, according to an IFC release. The German company announced since its market entry it intended to enter towns with up to 30,000 residents.
The EUR50 million would be enough for Lidl to open 50 stores, considering that the average investment in a store is EUR1 million, land excluded
Lidl recently announced it planned to open 65 stores this year, and reach a total of 200 stores
Lidl is currently the most extensive store chain in Romania with 135 units. The German company entered the Romanian market by taking over the Plus discount chain in 2010 from the Tengelmann group. The chain has yet to announce last year’s results.
Plus Discount posted a loss of 247.7 million lei (EUR56.9 million) in 2010, more than three times the 2009 figure. But the company’s turnover rose in 2010 against 2009 from RON1.3 billion (EUR0.3 billion) to RON1.45 billion (EUR0.33 billion).
Lidl is part of the Lidl-Schwartz group that also owns Kaufland. (EUR1=RON4.3477)
(English version by Daniela Stoican)