Expansion has led to a 40% increase in Penny Market’s business

The Penny Market network operates 50 stores in Romania, including Penny Market XXL, and plans to maintain a rapid expansion rhythm in 2008 by opening a further 25 Penny Market stores throughout Romania, requiring an investment of €45 million.

The network is operated by Rewe, second-largest retail group in Romania. The company finalized its rebranding of the five XXL Megadiscount stores, turning them into Penny Market XXL stores.

Rewe Romania representatives announced investments ranging from €180-200 mln between 2006-2011 in land, buildings and equipment, and long-term plans include the opening of 150-200 stores in Romania.

The German group Rewe has been operational in Romania since 1999 through its Billa, Penny and Selgros stores. The retailer is present in 14 countries with 12,000 stores.