Romanian IT&C retailer Altex opens 5 mln euro store

The 1,500 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 reaches 128.

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 30.3 million euro this year to expand and modernise its network of stores and logistics centers.

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

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

($=0.8555 euro)