Bulgarian Retailer Fantastico Announces 18 Per Cent Increase In Sales

Bulgarian grocery retailer Fantastico said sales rose 18 per cent in 2007 and should add 25 this year.

The company is preparing the launch of two new outlets in Sofia. The rollouts will bring to 32 the total number of Fantastico supermarkets in operation.

The first of the openings will occur within days in the Mladost residential district. The 4 million leva supermarket will have an area of 2 000 sq m.

The second launch is scheduled for mid-2008 near the Sofia ring road. It will have an area of 3 000 sq m.

The goal of the chain is to continue to expand by launching new stores in Sofia as well as in other cities. "To achieve this, we are looking for suitable locations in a number of big and some smaller population centres," said Fantastico.

Kyustendil is the only non-Sofia location in the Fantastico chain at present.

Other local retailers have also caught the expansion bug.

The Evropa supermarket chain plans to increase its outlets to 30 in 2008, up from 25 at the end of last year.

Piccadilly, bought by Serbian peer Delta Maxi in 2007, will be targetting 20 launches under various retail formats over the next four years.

The company is in talks to secure leases in a number of shopping malls currently under development.

Elemag, the smallest of the locally-owned retailers, operates three outlets in Sofia. The gourmet grocer plans to open its first regional store in Mall Pleven in Pleven.

Supermarket operator CBA Asset Management recently announced the acquisition of Varna-based grocery chain Burlex.

Elemag, the smallest of the locally-owned retailers, operates three outlets in Sofia. The gourmet grocer plans to open its first regional store in Mall Pleven in Pleven.propertywisebulgaria.com