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Another german chain-store network aims at Bulgarian market

Date: 22.02.2007

The German Plus chain of stores intends to start its business in Bulgaria during the first quarter of 2008.

Deputy Minister of Economy Nina Radeva presented a First-Class Investor Certificate to representatives of the Plus Chain-Store Network on Monday.

About 200 stores throughout Bulgaria are to be opened within the next four years and thus about 2400 new employment positions will be available. Plus will invest about EUR 250 M total.

The Plus project for investment intends to establish a logistics and administrative centre somewhere around the village of Chepintzi where 200 jobs will be available in 2007.

Plus is a part of the Tengelman International Group. Its first stores were opened in 1972 in Germany.

It has established offices in nine European countries; it manages 4000 stores and manages more than 42,000 employees and an annual turnover amounting to over EUR 10 B.

Besides Germany, company's stores can be found in Austria, Hungary, Spain, Portugal, Poland, Romania and Greece.

The chain relies on competitive prices and is known in Germany for its series of promotional campaigns for its customers. The local customers place the chain in the same price class as two other major chains - Lidl and Aldi.

 

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