German retailer Kaufland to invest EUR 300 mln in Romania this year

German retailer Kaufland will invest some EUR 300 million in Romania to purchase land, remodel old stores, and inaugurate new ones, compared to EUR 148 mln invested last year.

By the end of the financial year 2020, on February 28, 2021, the retailer will have 13 additional stores, four of which it has already opened.

"We will open nine more stores this financial year. We have already opened four units. We will have a rate of almost ten stores per year for each year that follows. (...) Nothing has changed in our plans," said Kaufland Romania general manager Marco Hoessl.

Kaufland Romania reported a net turnover of over RON 11.8 billion (EUR 2.4 bln) in 2019, 9% more than in the previous year.

One of the growth engines for Kaufland's business in 2020 is online commerce. The company's official claims that online sales in only one month matched his initial estimates for the entire year. Moreover, the telephone ordering service was successful, as it granted access to remote shopping to Romanians without a smartphone and a bank card.

(Photo source: Kaufland)