“Since the beginning of the year (until November 26 i.e.), we have opened 171 stores in 37 counties plus Bucharest. We plan to be as close to 700 stores by yearend as possible,” says Daniel Cirstea, the Romanian executive who runs Profi’s operations in Romania.
Profi is the leading retailer by number of new stores opened this year, which makes it the company with the fastest expansion.
Plans do not stop here, though. Last year, buyout investor Mid Europa Partners bought Profi for more than EUR500 million. At the time, the management of Mid Europa Partners and Daniel Cirstea said Profi was aiming for 1,000 stores in Romania, without saying how soon that was to happen. However, given the data supplied by the company, it might reach almost 1,000 stores as soon as next year.
“Theoretically, we will open at least as many stores in 2018 as we did in 2017 (almost 200 i.e.),” Profi’s CEO said.
Profi’s revenue could amount to more than EUR1 billion this year, following growth of 35%.
(English version by Loredana Fratila-Cristescu)