Mega Image builds three more supermarkets in Bucharest

Mega Image Company, owner of a ten-supermarket chain in Bucharest, is contemplating an expansion in Romania, by building three more stores, totalling 4,500 sqm in Bucharest.

The new supermarkets will be located in the following areas: 1 Mai, Hala Traian and downtown Bucharest; the investment will amount to some $8.1 million, Antonios Tirpintiris, Mega Image president, was quoted as saying by Mediafax.

Antonios Tirpintiris said that Mega Image was considering the expansion of its store chain outside Bucharest soon, that is by late 2001 or early 2002, having scheduled the opening of three supermarkets in Constanta and in other two cities in the country, an investment estimated at $4 million.

The supermarket sector is one of the best segments of the retail market in Romania, Mega Image’s competitors being Gima (held by Turkish Fiba Group), Billa (held by German Rewe Concern) and La Fourmi.

“Our company’s development strategy was to open two supermarkets a year until 2000. The future plans include a more aggressive development policy and the expansion at a 3-5 supermarkets annual rate,” Antonios Tirpintiris added.