Financially | November 14, 2018, at noon. 10:14
Maxima Group plans to open 120 to 140 new branches in the Baltic, Bulgaria and Poland next year, Maxima Group said in a statement on the Vilnius Stock Exchange.
He states that many of these stores will be opened in Poland and that in expanding and developing their chains, Maxima Group plans to invest at least 100 million euros next year.
"Next year we are planning an active expansion, focusing mainly on Poland, which has 38 million people, is attractive in terms of size and capabilities for growth and integration," said Maxima Group Division Director, Division of Missouri.
"The merger of the Stokrotka retail chain that we bought in the spring and Aldik, which already belonged to, provided a solid basis for further growth in this neighboring country, and in the coming years we are planning to maintain a rapid growth rate there," Misjun added.
Maxima Group has Maxima retail stores in the Baltic States, Stokrotka and Aldik in Poland, T-Market in Bulgaria and Barbora's food and e-marketing platform operating in Lithuania and Latvia. The Maxima group belongs to the holding "Vilniaus prekyba".
At the end of October, the Maxima Group had 1059 stores, and most – 507 – were in Poland. By the end of this year, it is planned to open another 50 stores in all markets, he said in a statement to the stock market.
At the end of 2017, Maxima Group had 568 stores.
Last year, the Maxima Group worked with a profit of 75 million euros, which was about twice as much as a year ago.