German retailer Kaufland plans to invest over EUR 375 million in Romania this year, up from EUR 300 mln last year and EUR 200 mln in 2019, the company's management announced.

The money will go into land purchases, modernizing existing stores, opening new units, and developing logistics, said Kaufland Romania CEO Marco Hossl, quoted by Ziarul Financiar.

Last year, the chain added ten more stores, and at least the same number of stores will be added this year - with the pace to be sustained over the coming years.

The company sees room for over 200 stores in Romania compared to the 140 units it currently has, Hossl stated.

Kaufland Romania reported a turnover of RON 12.92 bln (EUR 2.65 bln) for the 2020 financial year, which ended in February 2021.

The company also says its contribution to Romania's GDP in 2020 amounted to EUR 1.9 bln (or 0.9% of the country's GDP), according to an impact study made by KPMG.

The same study says that Kaufland, directly and indirectly, supports 68,000 full-time jobs in Romania. The company says it works with 2,400 local suppliers and that two-thirds (67%) of the money Romanians spend in its stores go to local businesses.

(Photo courtesy of Kaufland)

andrei@romania-insider.com