Discount retailer Netto is to move into Ukraine with a first store set to open in 2010, the company’s chief executive told just-food today (2 January).
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Netto, which is owned by Denmark’s Dansk Supermarked, has earmarked Ukraine as its sixth European market.
CEO Claus Juel-Jensen said Netto had started looking at suitable sites on which to build stores, a strategy the company prefers over acquiring local businesses.
“Our experience is that if you want to get it right from the start then this is the right way to do it,” Juel-Jensen said. “Ukraine could be a good business opportunity and it’s a good time to enter such a developing economy.”
Juel-Jensen was cagey about the number of stores Netto planned to build in Ukraine but said the company would look “west of Kiev” with a first opening slated for 2010.
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By GlobalDataUkraine remains the only new market in the pipeline for Netto in 2008 with the company instead looking to focus on growing its existing businesses.
“In Great Britain, in Germany and in Poland, our market share is still low and we have a lot of work to do,” Juel-Jensen added.
