Domo in talks to take over Teknosa facilities

Domo Retail, the second-larger player on the electronics and home appliances market in Romania, is in talks to purchase the retail facilities held by Turkish-based Teknosa, which last week closed down all of its 7 Romanian stores. “We have talked to the owners of the spaces rented by Teknosa, and have already signed a contract to take over the store in Constanta, which was planned to open in the coming months,” said Lorand Szarvadi (photo), Domo CEO. In 2006, Teknosa took over Primex, a company held by Gyorgy Baba, who at the time managed the around 30-unit network of Cosmo stores, 7 of which were rebranded last year. The store taken over by Domo is located in the City Park Mall, developed in Constanta by Israeli-based Neocity. Domo representatives said they purchased the store around a month ago, after the mall’s developers contacted them in search of a new tenant, after Teknosa announced that it would not open a store. According to its development strategy for Romania, Teknosa was supposed to open stores similar to the one in Constanta, in Suceava, Piatra-Neamt and Bacau. “We also target other retail spaces in Romania, which had been contracted by Teknosa, but we cannot say where for the time being. Some of them could become banking or drugstore facilities, while the store in Baneasa Shopping City has been taken over by a fashion retailer,” said Szarvadi.