Discount supermarket Plus is planning to invest €400m (US$467m) to €500m a year to open more than 1,000 new stores by 2010, according to chief executive Michael Huerter, the AFX news agency reports, citing the Handelsblatt newspaper.
Go deeper with GlobalData
Plus, which is part of the Tengelmann group, is planning to focus its expansion on Romania, where it hopes to boost the number of stores to 120 from currently 11 by 2010.
It will invest €200m in its expansion in Romania.
“We want to raise the share of foreign business to 40% from currently about 25% within the next five years,” Huerter said. In the long term, Plus hopes to post about two thirds of its sales outside of Germany.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
