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Empik plans to expand to the East through acquisitions

2007-11-21 00:00
publikacja
2007-11-21 00:00
"Within three to five years we intend to open a few hundred outlets in Russia, Kazakhstan and Ukraine and create a network similar to our domestic one. [...] Within a few years it will be too late," said Maciej Dyjas, president of EM&F.

The firm operates almost 50 stores both in Russia and Ukraine, but it also runs one shop in the Czech Republic and three outlets in Germany. More intensive foreign expansion will be possible thanks to the recent acquisition of Maratex, which runs 63 branded stores in Russia, Kazakhstan and Ukraine. Stronger growth in Germany and other countries of Western Europe was postponed to a later date, as it will require a new concept. After three quarters of the year EM&F had a net profit of zł.14.2 million on revenues of zł.953.3 million.


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