Altex opens new store in Bucharest

Appliance and consumer-electronics retailer said it would open new store in Bucharest, in Grand Arena Mall, its sixth electronics megastore opened in 2009, after the units in Timisoara, Bucharest, Oradea, Satu-Mare and Cluj-Napoca.
The new location has a retail space of 400sqm and will market around 4,000 electronic, appliances, tech, communications and multimedia products.

The consumer electronics retailer recorded in the first nine months this year sales of €124 million, 50% less than €248 million in the same period of last year.

In the third quarter, Altex Romania posted a slight increase on a quarterly basis. “Altex’s third-quarter sales volume increased by 6% from previous quarter, a growth that we consider very solid under current market conditions”, said Cristian Moanta, marketing and sales director of Altex.

The retailer’s aggregate retail surface is around 93,000 sqm, spread over 52 Altex stores and 15 Media Galaxy stores across the country. Altex Romania, owned by Dan Ostahie (photo), is majority shareholder in Complet Electro Serv SRL – IT equipment manufacturer, Cometex SA – real estate company, and Credex SA – consumer credit company, where 30% stake is held by Raiffeisen Bank.

Altex’s peers in the local market are Flamingo and Domo.

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