REWE will invest €58 million in Romania in 2013, Daniel Gross, chief financial officer at REWE Romania announced yesterday, 27 May.
REWE Romania have announced plans to expand their operations in Romania, with development strategy focused on launching new stores and offering better services. REWE Group Managing Director for Corporate Communications Martin Brunning, said that the Group's ultimate aim is to have 400 Penny Market and XXL Mega Discount stores opened in Romania in the near future.
While REWE Group have been present in Romania for over ten years, 2013 marked their highest investment in their store network to date. According to Brunning, "Romania is the REWE Group's second largest market after Italy and still has a high growth potential in the next ten years."
Penny Market recorded a turnover of some €450 million (RON2 billion) in 2012, a year-on-year increase of 10.53%, according to the company. In the 2013-2014 period, the company plans to open 20 new Penny Market stores in each year, with a total investment for development of €100 million. REWE Romania expect turnover in 2013 to hit around RON2.5 billion. Daniel Gross, chief financial officer at REWE said that the Group intends to invest around €58 million in developments this year, with a further €50 million expected to be invested next year.
Earlier this year, REWE Romania repositioned Penny Market as a 'discounter with fresh produce from your neighbourhood'. Over 60% of the range of Penny Market food products is now produced in Romania. REWE Romania also have added in-store bakeries to over 70% of the Penny Market stores, and 2013 is expected to see over 20 butcher counters opened across the network. XXL Mega Discount also underwent a major repositioning during the year.
Rewe Romania is part of the German Rewe Group. Currently present in 13 European countries, the group recorded a turnover of EUR 49.7 billion in 2012. Rewe Group has more than 300,000 employees in over 15,000 stores.
