Rewe Romania to open over 35 new Penny Market stores, sales maintain growth

Rewe Romania, the local subsidiary of German retail group Rewe, that operates the Penny Market discount shop chain, posted a 13 percent increase in sales last year, to EUR 496 million, and plans to further expand its network in the next two years, according to a company announcement. The company plans to open 35 to 45 new Penny Market shops in Romania and a third logistics platform in Moldova. End 2013, the company had a network of 156 units, of which 149 are Penny Market shops and the remaining 7 are XXL Mega Discount larger surface stores, and two logistics centers. The company employs over 3,200 people. “The Romanian retail market still has a huge potential for growth, given the fact that the number of modern commerce shopping units per capita is only a quarter of the European average”, Rewe Romania management says. Rewe’s real estate division in Romania, REWE Projektentwicklung România SRL, registered sales of EUR 14 million, similar to those in 2012. Rewe’s main competitor on the discount retail market is German group Schwarz, which operates in Romania through the Kaufland and Lidl brands. Kaufland is currently the market leader in Romanian retail, sales wise. Andrei Chirileasa, andrei@romania-insider.com