Largest local retailer Kaufland plans to invest EUR 110.6 million in expansion, new plot acquisition and store modernization this year.

The investment budget is similar to the one in recent years, which varied between EUR 80 and EUR 100 million only for opening new stores, reports local Ziarul Financiar. The additional amounts were invested in refurbishment.

A Kaufland store requires investments of EUR 7-9 million, including the land price. The German retailer plans to open at least six new stores in Romania this year.

It will employ about 1,000 new people. The total number of employees could thus reach 17,000.

Marco Hossl, Kaufland Romania CEO, recently said that Romania still had place for expansion, if economy continued to develop at the last years’ pace. Bucharest, for example, had place for 20 stores whereas Iasi could host five new stores, he added.

editor@romania-insider.com