German retailer Penny inks EUR 3 bln, 10-year investment plan for Romania
German discount store chain Penny plans to reach a network of 1,000 stores in Romania by 2035, from 417 currently, and earmarked a budget of EUR 3 billion for local development, according to the company's CEO Daniel Gross, quoted by…
iulian ernst · Journalist
· Updated · 2 min read
German discount store chain Penny plans to reach a network of 1,000 stores in Romania by 2035, from 417 currently, and earmarked a budget of EUR 3 billion for local development, according to the company's CEO Daniel Gross, quoted by Revista Progresiv.
"In our first analysis for Romania, which we did in 2003, we found a local potential for 200 stores. A decade later, in 2014, we set a 400-store target for 2025, which we met in advance. Now, we see room for 1,000 locations," Daniel Gross said.
