EnglishIT&C, electronics and appliances retailer Altex has invested some 1 million EUR in opening the first Media Galaxy store in Suceava. Located within the Shopping City Suceava, the store measures over 2,400 square meters and will carry around 15,000 products.
"The Media Galaxy store within the Shopping City Suceava adds to the projects that we have developed with our traditional partners such as Carrefour," said Altex Executive Manager Adrian Urda.
Altex Romania currently operates an overall commercial space of some 90,000 square meters distributed among 73 Altex stores and 15 Media Galaxy stores. Altex is also a majority shareholder in Complet Electro Serv (IT equipment manufacturer), Altex Distribution (logistics & distribution), Cometex SA (real estate) and Credex (consumer loan firm).
Plans for 2008 include an increase in the overall commercial surface by 50,000 square meters and investments worth some 25 million EUR, by 25% more than the Y2007 investment budget. Altex Group concluded last year with over 317 million EUR in turnover, up by 50% y/y, and estimates to reach over 430 million EUR this year.
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