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Slovenian retailer Mercator Poslovni Sistemi d.d. will open at least 15 new stores in the Balkans during the next two years to cement its position as the largest retailer in southeastern Europe, according to Bloomberg.
"We are very much interested in the western Balkans, where our name is well known and recognized and we can expect above average growth," Chief Executive Officer Ziga Debeljak said in an interview.
Mercator has expanded to tap incomes gains and achieve a goal of having about 1,000 stores in the region within two years. The Ljubljana-based company has bought outlets or opened stores in neighboring Croatia, Serbia and Bosnia-Herzegovina, and plans to form alliances with local chains or open new shops in Montenegro, Macedonia, Albania, Bulgaria and Romania from 2010.
"The retail sector in Bulgaria and Romania is still very fragmented and growing fast, so we think even in 2010 it will be a good time to enter those markets with our type of retail service,"" Debeljak said.
Mercator aims to bolster its position as the region"s food and non-food.
Mercator is present in Croatia, Serbia and Bosnia-Herzegovina. Serbia, Bosnia şi Herzegovina. For the current fiscal year, the retailer expects net revenues of 2.3 billion EUR and a net profit of 30.4 million EUR.
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