German retailer Kaufland, the leader of the local retail market, reached a turnover of RON 10.1 billion (EUR 2.21 billion) in 2017, up by 4% compared to 2016, according to Ziarul Financiar data.

Kaufland is the third company in Romania that passes the RON 10 billion mark, after oil and gas group OMV Petrom and carmaker Dacia. The consumption growth and the overall positive evolution of the local economy contributed to Kaufland’s growth in 2017.

The company also continued its expansion, although at a slower pace, by opening five stores, one of which was temporary. This year, the company plans to accelerate its expansion and open 10 new stores, which will push its network to 126 stores.

The retailer thus aims to reach a double-digit growth in sales this year.

editor@romania-insider.com