5m euro XXL in Targoviste

Rewe Romania, branch of the German trade group has opened a store in Targoviste yesterday, following a 5 million euro investment. This is the third discounter-type store opened by Rewe in Romania after those in Bucharest and Sibiu. “This segment primarily targets the low and medium-income people, those consumers that turn every single purchase into a bargain or are looking for the best offers they can find for their everyday shopping. A discounter-type store usually sells the consumer goods at low prices, because there are no intermediaries for buying the commodities and no additional expenses,” Rainer Exel, Rewe Romania CEO said. The first store of the German group opened in Bucharest in the first half of 2001 and sold some 12 million euros’ worth in about eight months. The company’s development plans on the Romanian market entail opening eight more stores in the medium run. The other player on the domestic discounter market is the Profi chain held by the French trade group Louis Delhaize, which operates in Western Romania. It is planning to open ten discounters throughout the country this year and will invest more than six million euros to this end. ZF