EnglishHome appliances & electronics retailer Altex has opened their 15th Media Galaxy store following an investment in excess of 1 million EUR. "The store we have opened in Targu Mures is located in the retail park built by Belrom. We intend to be present in all tows where Belrom develops other such projects. The store measures 4,000 sq.m. and is targeting customers in 200 kilometer radius," said CEO Dan Ostahie.
Altex is planning to open another three Media Galaxy stores by the end of the year, two in Cluj and one in Iasi. The overall surface of the three stores would be 8,000 sq.m., unevenly distributed between one store of 4,000 sq.m. and two stores of 2,000 sq.m. each. The overall investment budget for the second half of the year is 15 million EUR.
Altex concluded H1 with 112 million EUR in turnover, up by some 25% y/y. Investments made in the first half of the year amounted to 5 million EUR and were channeled primarily to developing the two retail networks, Altex Megastore and Media Galaxy. At the end of June, Altex reported an aggregate commercials surface of 80,000 square meters distributed across 80 Altex Megastore, 14 Media Galaxy and 5 Digital stores.
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