Patriciu Plans To Open 97 New Macro Stores And Rebrand 53 By Yearend

05.20.2011 ZF English

Businessman Dinu Patriciu will invest between EUR150 million and EUR200 million this year in the opening of Macro stores and in rebranding the existing Minimax Discount stores, according to ZF estimations based on the number of openings announced by the company for this year and on the average amount necessary for an investment.

The expansion plans announced by the businessman are very ambitious considering that the other players do not plan open more than 10 to 20 stores in 2011. On the other hand, the move could be explained by the fact that discount stores are the most popular retail format now, with the purchasing power continuing to be very low, and price being the main factor considered when shopping.

Company representatives did not provide figures on the overall value of investments in the Macro project in 2011, but specified they wanted to reach 150 stores at the end of the year, from the current 53.

Amid an average investment of EUR1.5 to 2 million in a discount store, the new openings will cost between EUR145 million and EUR190 million.

The rebranding of the existing 53 Minimax stores will cost around EUR26.5 million. The calculation was made based on the EUR500,000 investment that has gone into the revamping of a Minimax store in Brasov that opened yesterday.