Metro forecasts growth in retail for another 10 years

Francois Oliver (photo), General Manager of Metro Cash & Carry Romania, the largest local retail network in terms of sales, says the dynamics of the Romanian economy could generate another ten years of growth for FMCG retail. However, the local market has recently been concerned with the turmoil on the international financial market, as well as the devaluation of the RON and higher inflation. “We mustn’t be pessimistic. The Romanian market is very dynamic, things are changing for the better every year, and foreign investors keep coming,” said Oliver. The French manager has been in Romania for eight years during which he has run the operations of Carrefour, and later took over at the helm of Metro Cash & Carry Romania. Oliver also specified that the Metro Cash & Carry Romania network has met its sales estimates, but did not give any further details. Recently, the company invested around one million euros to open a catering centre dedicated to hotels, restaurants and caterers in the Metro Cash & Carry store in the Militari district of Bucharest. A similar project will also be developed for reselling clients (smaller retailers). Metro Cash & Carry Romania, which operates 23 distribution centres, will resume network expansion this year, with the company examining several locations at present. Last year, the company reported a 1.59 billion-euro turnover, up 11.3% on 2006.