Do-It-Yourself retailer Dedeman has invested EUR 16.5 million in a new store in Iasi, Eastern Romania. The unit will replace the old Dedeman store in Iasi, which was inaugurated in November 2004, and which will close down, according to News.ro.

The new store will cover 15,000 sqm, twice the size of the store it replaces. It is located on the Primaverii Boulevard.

Dedeman currently owns 47 stores in Romania, two logistics centers and has over 9,800 employees.

The company ranked first among the local DIY retailers in 2016, with a turnover of EUR 1.16 billion, up 20% over 2015. The net profit exceeded EUR 158 million last year, up 26.6% year-on-year.

editor@romania-insider.com