According to the management of Meli Melo Paris, a company founded in 1998 in Romania with French capital, the decision to expand into Bulgaria was driven by similar consumer behavior and a surge in popularity for accessories shops.
Bulgaria is the second Meli Melo’s second foreign market after the Republic of Moldova, where the retailer opened a store in 2007, in the capital Chisinau.
The Bulgarian store was opened at the end of March and is expected to attract around 3,000 customers per month and reach sales of EUR350,000 during the first year. On the medium term, the retailer plans to open a second shop in Bulgaria.
Later this year, the retailer plans to open a shop in Moscow and its medium-term plans include the opening of three stores in Russia.
Meli Melo’s expansion plans for the next three to five years also include stores in Poland and Ukraine.
In Romania, Meli Melo Paris plans to open three more stores this year. The retailer currently has 41 stores in Romania, with 3,500-4,000 customers per month. For this year, Meli Melo targets to match its 2012 sales, of EUR8.25 million.