The retailer aims to continue its expansion at a fast pace so as to reach 11 stores in Romania at the end of 2023. Romania is the first foreign market for Aurora Multimarket.
“Today, after more than a year of painstaking work by our team, Aurora Multimarket has become an international chain of stores. We opened the first store (spoiler – there will be many more to come) in an EU country, in Romania, in the city of Suceava,” said Taras Panasenko, co-founder and CEO of Aurora Multimarket.
Aurora is a store chain active only on the Ukrainian market – and, recently in Romania, too. In Ukraine, the chain has some 1,000 stores (data for summer 2023), according to recruitment platform ejobs, which posts the first job openings in Suceava.
The business was established in 2011 by three entrepreneurs. In 2021, it attracted Ukraine-based investment fund Horizon Capital into its shareholding structure.
“Aurora has grown quickly, expanding its chain more than tenfold over the course of six years. The focus is on the discount segment“, according to the website of Horizon Capital. The investment fund manages $1.5 billion worth of assets.
The same source shows that the Fund will support the retailer’s development both in Ukraine and in other countries in Central and Eastern Europe.