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