Billa could invest €60 million in 2008

The move is part of the company’s strategy to speed up its expansion pace. “I cannot say how many stores are to be opened in Bucharest, but this is our expansion priority, because there is a high potential for supermarkets,” Haraszti said. Since entering the Romanian market in 1999, Billa has opened 25 supermarkets, most of them greenfield investments. Billa Romania posted net sales worth €350 million in 2006, according to Haraszti, compared to €250 million in 2005. The Rewe group, which also operates the supermarket chain Selgros Cash&Carry and discount chains Penny Market and XXL, posted sales last year totaling €1.05 billion in Romania. Billa’s main competitors on the local market are Carrefour, Kaufland, Metro Cash&Carry, Cora and XXL.