Greek toy retailer plans Romanian market entry

Greek toy retailer Jumbo is preparing for expansion into Romania, where it plans to open eight stores by 2016, according to the company. Jumbo hopes to achieve a sales level of some EUR 37 million in 2016. The company aims to open in 2014 the first stores in Romania, where it already owns a piece of land in Bucharest, some 47,000 sqm. The news about Jumbo coming to Romania surfaced earlier in 2008, but the retailer delayed it and focused on Bulgaria instead. The group has 7 stores in Bulgaria and 3 in Cyprus, apart from the 51 in its home country Greece. The Jumbo network runs under franchise in Macedonia and Albania. Jumbo, which sells toys, clothes, as well as home decorations, had a net profit of EUR 17 million in the first quarter of its current fiscal year – July to September 2012. Its sales were at EUR 124 million, a slight increase on the same quarter last year. In Romania, Jumbo would join a handful of toy retailers, including Noriel and Toyplex. editor@romania-insider.com (photo source: Jumbo Albania on Facebook)