The Real hypermarket chain intends to expand in the wake of 80 million-euro investments per year after 2010 and double its number of hypermarkets in Bucharest, to eight over the next few years.
"The crisis has not had any impact on our strategy on the Romanian market," said French-born Michel Lamoot, general manager of Real Hypermarket Romania.
However, the retailer's expansion will slow down to a rate of 1-2 new stores in 2010, after four years in which the German operator opened 24 hypermarkets in the wake of 520 million-euro investments, a record level in trade.
"This year we will probably complete 40 million euros in investments, half as much as in 2009. This slowdown has to do with technical reasons: the real estate market froze, and things are still quiet here. We are currently actively seeking locations for expansion over the next few years," Lamoot specified.
The retailer is opening its fourth store in Bucharest today, in the Policolor area in eastern Bucharest, following a 23 million-euro investment. This could be Real's only opening in 2010, considering that the chain has no other store under construction at present. Lamoot specified there was, however, an expansion plan for the end of this year or for the beginning of 2011.
"We could double our Bucharest chain," added the Real manager.
The opening of another four Real stores in Bucharest could entail investments of around 100 million euros over the next few years.
The Real hypermarket chain intends to expand in the wake of 80 million-euro investments per year after 2010 and double its number of hypermarkets in Bucharest, to eight over the next few years.
"The crisis has not had any impact on our strategy on the Romanian market," said French-born Michel Lamoot, general manager of Real Hypermarket Romania.
However, the retailer's expansion will slow down to a
