Romanian IT&C retailer Altex opens 1 mln euro store in Bucharest

Located in Titan neighborhood in Bucharest, the 1,800 sq m store will offer over 40,000 products, Altex said in a press release.

With the new unit, the number of Altex outlets in Romania has reached 130.

The opening is part of a massive expansion plan announced by Altex in June. The retailer said at the time that it plans to invest over 27 million euro this year to expand and modernise its network of stores and logistics centers.

In November, Altex invested 10 million euro in a new store near Bucharest and another 5 million euro in a new unit located in the western town of Lugoj.

At the beginning of October, the European Bank for Reconstruction and Development approved a 12 million euro loan to Altex to finance up to 70.5% of the cost of a logistics centre in Dragomiresti Vale, Ilfov county.

Altex employs over 4,000 in its stores across Romania under the brands Altex and Media Galaxy. It also operates two online stores.

($=0.8179 euro)