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Austrian furniture retailer XXXLutz to open three stores in Romania - report

Austrian furniture retailer XXXLutz to open three stores in Romania - report XXXLutz

BUCHAREST (Romania), March 15 (SeeNews) - Austrian furniture retailer XXXLutz will open in the autumn its first store in Romania, in the western city of Timisoara, and is considering expansion to other cities, online news portal Opinia Timisoarei reported on Wednesday.

The 6,500 sq m store in Timisoara will be branded as MOMAX, the company's medium premium brand.

After Timisoara, XXXLutz will open two other stores - in Bucharest and in the northwestern city of Cluj, according to the news outlet.

XXXLutz posted a turnover of 3.7 billion euro ($3.92 billion) in 2016. The company has 28,000 employees working in 297 stores around the world

Its main competitor worldwide is Sweden's IKEA, the world's largest furniture retailer.

IKEA Romania said in November it plans to invest 80 million euro in a second store in Bucharest and to open three more stores in the country by 2020 - in Timisoara, Brasov and Cluj-Napoca.

($=0.9417 euro)
 

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