EnglishRomanian-owned hypermarket chain Pic could tap into the Bucharest market next year, when plans are to open five new hypermarkets for an average investment of 30 million EUR per unit, according to Commercial Manager Liviu Facaleata.
"We do not intend to sell our business, but expand it further. Five new stores are planned for 2009, including one that may be opened in Bucharest. So far we have posponed going to Bucharest ebcause of the high price of land and the problem of finding a good location," he said.
Another plan is to invest 50-60 million EUR this year in opening two retail parks in Calarasi and Ploiesti. If so, Pic hypermarkets would share these sites with leading do-it-yourself and furniture retailers. Pic opened their first hypermarket in Ploiesti in 2004 and the second one in Craiova in 2006. Pic is a fully-owned Romanian business and also produces basic foodstuff such as sugar, oil, rice and flour.
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