Pic builds 2 hypermarkets with 50m euros

The Pic group in Pitesti, owned by Penescu brothers, the only domestically-owned company, which competes with the big retail chains, will open two new hypermarkets this year, following investments worth 50 million euros. “The new Pic hypermarkets will be opened in the second half of the year in the cities of Braila and Oradea, while next year we plan to see another three openings,” stated Liviu Facaleata, general manager of the Pic group. The Penescu brothers announced the development of an 8 hypermarket-network by 2010, which will also target Bucharest. “The turnover of the Pic group derived from retail rose by some 30% last year against 2005, both thanks to the store in Craiova, opened in the autumn of 2006, and to the products sold in the hypermarket in Pitesti and to the fact that it was able to ensure its clientse loyalty,” specified Liviu Facaleata.