Romanian retailer Profi plans EUR 50 mln investments next year

Romanian retailer Profi has planned EUR 50 million investments in 2016. The company aims to expand its network to 500 stores. It will build some of the stores from scratch, but it also plans to set up stores on the ground floor of apartment blocks, reports local Mediafax. The investment in one store varies between EUR 200,000 and EUR 400,000 based on the location. The company also plans to upgrade its current stores next year. Profi’s local network currently has 367 stores. The most recent one was opened yesterday in Oradea, western Romania. It was the 93rd store Profi has opened this year. The rapid expansion has also helped the retailer increase its sales by about 40% this year, to almost EUR 600 million. Profi currently has over 9,000 employees. Polish investment fund Enterprise Investors controls the company. editor@romania-insider.com