The growth comes after the company opened 103 new stores under its three formats – supermarket, convenience and frozen foods store, last year alone, taking the network to almost 300. Its 2013 investment budget stood at EUR45 million.
“We forecast significant growth of our revenue this year,” Mega Image representatives said without going into details.
The chain plans to continue expansion at the same pace, with 100 new stores set to open in 2014. The company has the largest retail network in Romania after speeding up expansion in the last couple of years, going from 100 to 300 stores.
Such an aggressive expansion on the part of Mega Image is changing the landscape of the local retail, as the opening of only one store puts very many traditional retailers out of business. More than 45,000 small traditional retailers have gone belly up on the last four years because of their inability to cope with the financial crisis and supermarket chains’ expansion.
(English version by Loredana Fratila-Cristescu)