bauMax invests 10m euros in a store in Bacau

Austrian DIY retailer bauMax opened a store in Bacau at the beginning of this week, as part of the expansion programme announced early this year, which could double the company’s turnover, to 120 million euros. The investment amounted to 10 million euros. According to previous company information, bauMax is set to operate 8 stores by the end of this year, and enter the Capital market in 2009, where it intends to reach 4 stores in the medium run. bauMax opened three stores last year, reaching a total of five on the local market, following investments worth around 10 million euros for each opening. The Austrian chain entered the Romanian market in the autumn of 2006, a year which saw the opening of two DIY stores in Brasov and Sibiu. bauMax Romania sales amounted to 61 million euros in 2007, according to company data, with turnover estimated to reach 120 million euros this year. On the Romanian market, bauMax’s rivals include Praktiker, Bricostore, Hornbach, Mr. Bricolage, as well as store networks which only have a local presence, such as Ambient and Dedeman.