Diverta to expand to Moldova

The Diverta store chain plans to enter the Republic of Moldova within one and a half years by opening its first store in Chisinau, company officials said. “We are considering either opening our own store, which will mean a one million euro investment, or partnering with a local company, or even buying some stock, in which case we could open as many as ten stores simultaneously,” said Sebi Vasilescu, the RTC Group retail manager. Diverta is the fourth Romanian retail chain to announce expansion abroad, after Flamingo, Mobexpert and Altex. The Diverta network is operated by Contur Invest, which is part of the RTC Group controlled by businessman Octavian Radu, who became a Democrat Party deputy last year. Diverta has 80 stores in Romania and generated 18.5 million euros in turnover in 2004, an increase of 25% on 2003. Diverta will also continue to expand its domestic market presence by opening a further ten stores, to which it plans to allocate three million euros. Diverta is mainly looking to open stores in countries where there are a lot of Romanians, says Vasilescu, with future destinations including Israel and Ukraine (Cernauti). ZF