February 13 (SeeNews) - Croatian privately held do-it-yourself and consumer electronics retailer Pevec said on Thursday it has changed its name to Pevex.
The company will remain an affordable retail chain under its new name, Pevec said in a press release.
Pevec has taken over nine existing shopping centres, opened seven new ones and employed some new 900 workers over the past four years, it said.
The company has decided to make the shopping centre in Zagreb neighbourhood of Jankomir its flagship centre.
The shopping centre in Vinkovci, eastern Croatia, which is planned to open at the beginning of September, will be the first to be built under the new visual identity of the company, it said.
Pevec's net profit rose to 139.6 million kuna in 2018, up 480% compared to 2015. Its total revenue grew to 2 billion kuna ($291.2 million/268.5 million euro), up 65% on 2015.
(1 euro = 7.45004 kuna)