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Media Markt to Invest in Spain & Open More Shops
28/01/2014 – Expansion / Cinco Días
After two lean years, German chain Media Markt managed to close 2013 fiscal year with gains. (…) “We have been growing since summer and some months were even marked by double-digits” – assures Ferran Reverter, the CEO of Media Markt in Spain.
By September, the company earned 1.541 million Euros from sales, 1.5% more. (…) Reverter believes that 2013 will be a turning point in the public consumption sector but it will not return to the golden times from before the crisis. “We are very cautious and for the next few years we predict a 3-4% recovery”.
Media Markt will advance in the new openings plan, from the 72 shops prospering now, up to 100-120 popped within seven years. Most of them will be situated in the centers of cities like Madrid (already existing shop at 200 Castellana Street), Barcelona and Bilbao. “In 2014, we will open two shops in the downtown and other in a shopping mall. Moreover, the shop in La Coruña, closed together with the Dolce Vita shopping center shutdown, will operate again”. The mean size of one shop will be of 2.000-2.500 square meters.
The CEO reminded about Media Markt´s 15th anniversary on the Spanish market celebrated this year. Firstly, the company´s top pick will be Barcelona, Valencia, Bilbao and Madrid.
Additionally, the chain is going to invest in online sales. (…).
Original articles: ExpansionPro, Cinco Días
Translation: AURA REE