Romanian retailer Profi, owned by the investment fund Mid Europa Partners, announced plans to open 200 new stores per year and become the second-biggest player on the local market by 2024.

To continue its expansion, Profi tests a new concept store, a mix of proximity and convenience store branded as ProfiGO. The retailer has already opened two such pilot stores under the new brand ProfiGO in Timisoara after testing the model in a unit in Ploiesti last autumn.

"This segment is not really represented in Romanian retail right now, and it is our understanding that people want it, so we are stepping in to provide," said Profi CEO Pawel Musial. "I believe we stand a chance to win this market."

From 67 stores in 2010, Profi has grown to be the local network with the widest geographical coverage and more than 1,400 stores at present. The retailer has more than 22,000 employees.

In 2019, Profi was the fourth-biggest retailer in Romania by turnover, with sales of EUR 1.5 bln. The top two positions were held by German retailers Kaufland (EUR 2.5 bln) and Lidl (EUR 2.06 bln), followed by French group Carrefour (EUR 1.72 bln). The results for 2020 are not available yet.

andrei@romania-insider.com

(Photo source: the company)