“We now have seven stores in Bucharest and want to expand slowly but steadily to 40 by yearend. We are looking at spots in dormitory districts, in apartment building areas,” says Anca Dragotescu, the official in charge of developing the Succes brand in Bucharest.
The investment will amount to more than EUR3 million according to ZF estimates.
Sarcina therefore becomes one of the most active entrepreneurs in local retail, as he came to Bucharest to take on international giants who have already opened 200 stores in the city.
The Gorj businessman is trying to succeed where other Romanian entrepreneurs like Dinu Patriciu (mic.ro) and Razvan Petrovici (Univers’all) failed.
Foreign retailers have conquered the local retail in the last six years as their Romanian rivals were brought down by consumer spending decline and did not have the necessary financial strength to keep expanding.
The Succes network includes 200 stores of various formats throughout the country, from small shops in city markets to hypermarkets. The retail chain is the driver of the business created by Sarcina, who owns production facilities in the meat and bakery industry, gas stations and wood processing operations.
The stores generated 60% to 70% of last year’s 341 million (EUR76.6 million) or EUR45 million to EUR55 million.
(English version by Loredana Fratila-Cristescu)