Carrefour’s investments reach half a billion euro

“Since coming to this market and until now, Carrefour’s investments total some €350 million,” according to a declaration for Business Standard by Carrefour Romania’s Marketing Manager, Andreea Mihai. Six stores are scheduled to be opened this year in Oradea, Arad, Pitesti, Suceava, Iasi and Bucharest, the latter in the Vitantis mall, at an average investment per store of €20 mln, indicated the store official.

Carrefour has 11 hypermarkets in Romania, of which five are in Bucharest, and one each in Ploiesti, Constanta, Brasov, Iasi, Cluj-Napoca and Braila.

As of November 2007, Carrefour Romania has also penetrated the supermarket segment, taking over the Artima chain of 21 stores, mostly in western Romania, for €55 mln, in order to consolidate its market position.

The company posted net sales in 2007 worth €866 mln, up 54.5 percent year-on-year due to a stable exchange rate and further expansion of the network by four stores, according to its annual report.

Its main direct competitors on the hypermarket segment in Romania are Cora, Auchan, Kaufland and Real.