miniMAX Discount invests 1 million euros in four new stores

Winmarkt shopping center and miniMAX Discount have signed a contract which will secure the discounter’s presence for the coming four years in 15 Winmarkt centers, after 1 million euro investment.

miniMAX will open stores at the underground story of Winmarkt Dacia center from Buzau and Winmarkt Dunarea from Braila, at the semi-basement of Winmarkt Central from Vaslui and at the ground story of Winmarkt Dacia center from Tulcea.

Under these agreements, miniMAX is expanding network to 30 stores across the country by September this year.

The four miniMAX stores will cover 840 sqm in Vaslui, 1,000 sqm in Buzau, 900 sqm in Braila and 740 sqm in Tulcea. All four stores will be opened by the end of September 2009, the first opening being scheduled for July 23 in Vaslui.

“It is clear that the offer from Winmarkt came in a good moment for us: miniMAX Discount is undergoing a development stage and the positioning of the new stores brings us closer to our objectives. Therefore, 4 of the 15 stores planned for the second half of the year are secured with investments of 250,000 euros each”, said Rainer Exel, managing director and shareholder of miniMAX commented.

“The economic crisis didn’t alter our strategy: while the competition, represented by the new shopping centers located at cities’ outskirts, is in distress, we pursue our investment strategy in an effort to keep our competitive edge and consolidate our position in shopping center segment from cities’ central areas that represent the future in retail, same as in Western European countries in the late 90’s, after the boom of shopping centers anchored by a hypermarket”, said Sergiu Stapler managing director Winmarkt.

Winmarkt, the 15-shopping center network in 13 cities across Romania is fully owned by Italiana Immobiliare Grande Distribuzione (IGD), company listed at Milan stock exchange, with a portfolio under management of 1.4 bln euros.

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