Kaufland invests in new HQ

Discount hypermarket network Kaufland is investing 10 million euros in building new, company-owned headquarters. The building is located close to the Kaufland store in the Floreasca district (Bucharest) and will be operational in around three months’ time. Kaufland has recently reached total investments worth nearly 300 million euros on the Romanian market and has a 22-store network, the latest store was opened yesterday in Iasi. The German firm’s plans include a further 10 openings this year, through investments worth an average of 7 million euros for each store, with sales areas covering 3,000 to 5,000 square metres. Other projects will be completed in Cluj-Napoca and Brasov very shortly, according to the company. The store network will expand to 50 stores in the next three years. Kaufland, a company held by German group Lidl&Schwarz, entered the local market in 2005 and, in addition to the store network, also holds a central warehouse in Ploiesti.