Tengelmann brings Obi onto the market

German group Tengelmann, which operates the Plus Discount stores, has announced its entry onto the Romanian market this year through DIY network Obi, and targets a 20-store network in the medium run. “Obi will soon tap into three new markets, Ukraine, Romania and Slovakia, with the first launches planned for 2008. In the medium run, the company targets up to 20 new stores, both in Ukraine, and Romania,” said company representatives. Obi is the fourth largest retailer worldwide, according to company data. The network presently includes over 500 stores and is the market leader in Germany, Czech Republic, Hungary, and Russia. The company posted sales worth 5.8 billion euros in the 2006 -2007 fiscal year ended March 31, and has over 38,000 employees in total. “Our goal is to be market leaders on every market we operate on. The focus of our expansion strategy targets markets in Central and Eastern Europe, Russia and Ukraine,” said Sergio Giroldi, CEO of Obi.