International retail companies are planning to invest around €1 billion in Romania this year to expand their business in the country, a report in the Romania Insider suggests.
The expansion plan includes the launch of 400 new stores as well as investments in new logistics centres, online sales, and digitisation of business.
Schwarz Group-owned Kaufland and Lidl are likely to spend a combined amount of over €0.5 billion this year in expanding their business in the country, the report said.
Lidl has secured an investment budget of over €200 million for building its network in the country this year, where it also plans to hire an additional 1,000 people.
Elsewhere, Kaufland has obtained a budget of €300 million for growing its operations in the country.
Romania generates sales amounting to €12 billion from around 3,000 hypermarkets, supermarkets, discount stores and other retail formats that operate in the country, according to estimates by the financial daily, Ziarul Financiar.
Small format retailers, Profi and Mega Image, are also expected to add more stores to their networks this year, the report added.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.
