PIC owns several hypermarkets in the cities of Pitesti, Craiova, Braila and Oradea. The latter two hypermarkets were opened in October and November 2007, following a total investment of €53 mln.
"These stores substantially increased the turnover and they are to spur the 50 percent increase in 2008", said Penescu.
The local retail market is the second largest in Central and Eastern Europe, with an estimated value of €40 billion. According to business advisory company Deloitte , the local retail market will reach €100 bln by 2010, with an annual 50 percent growth rate.
PIC's main competitors on the hypermarkets segment are French retailers Carrefour and Auchan, Belgian retailer Cora and German retailer Kaufland. PIC is the only Romanian group on this market.
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