Maxima Latvija invested €11.5 million in reconstructing and renovating its store network in Latvia in 2023.
During the year, Maxima Latvija invested more than €5 million in renovating its stores to the so-called 'unified concept', transforming 33 stores across Latvia and ending the year with 121 new-format stores, the company said in a statement.
The renovated store format features a uniform layout and identical product assortment in the same store format, allowing ease of navigation, efficient assortment planning, and simplified store management processes for employees.
Maxima added that it intends to complete the transition to the new concept in the majority of its stores in 2024.
Evija Grīnberga, sales and production director of Maxima Latvija explained, "Our constant priority is to provide a shopping environment that is modern and pleasant for shoppers and comfortable for employees.
"Therefore, last year we continued to invest in store reconstruction and network expansion, as well as in the adaptation of stores to the unified concept while strengthening the convenience of employees and improving a pleasant working environment for colleagues both in stores and in the logistics centre."
Other Investments
Maxima Latvija carried out a major reconstruction of three stores in Latvia, involving a total investment of €2.1 million.
The renovation project focused on modernising the stores' sales areas, introducing sustainable solutions, better energy efficiency, and implementing improvements for the convenience of employees.
In addition, the retail group invested €4 million in the day-to-day maintenance of its stores, such as upgrading technical equipment and sales resources, modernising IT and software, and upgrading air-conditioning systems and fire safety equipment.
Maxima also invested €130,000 in the logistics centre in the Abrās district of Ķekava, with a particular focus on employee comfort and working conditions.
The investment included improving the energy efficiency of the logistics centre's buildings, modernising the hall, driver convenience rooms, and the employees' kitchen.
It also commenced the rebuilding of changing rooms, which will be completed this year.
