Two more "Citymarket" supermarkets planned in Riga this year
The Finnish company "Kesko Food" plans to open two more "Citymarket" supermarkets this year, the director general at "Kesko Food Latvija", Henrijs Fogels told a press conference today.
The Finnish company "Kesko Food" plans to open two more "Citymarket" supermarkets this year, the director general at "Kesko Food Latvija", Henrijs Fogels told a press conference today.
The second Citymarket" supermarket will open its doors at 68b Krasta Street at the end of this month. The company has invested LVL 4 million in this project. Floor space will be larger than that of its first store at Lielirbes Street in Riga (5,500 square meters).
Another "Citymarket" supermarket is planned for Pulkveza Brieza Street in Riga in November.
In three to five years, 10 to 15 new "Citymarket" supermarkets are planned for Riga and Latvia. Next year, the first hyper-market project is planned in Riga. The supermarkets are mainly planned near main roads.
This year, seven stores are to be opened in which goods will be offered for reduced prices, mainly located in residential areas.
Fogels informed that currently 33 "Kesko" stores offering goods for reduced prices are operating successfully in Estonia. The stores with goods for "aggressively low prices" are also planned for Latvia, and in three to four years about 60 such stores are to be opened.
Since the end of 2000, "Kesko Food" has invested more than LVL 8 million in Latvia but by the end of the year, investments in establishing the "Citymarket" network of supermarkets would total LVL 16 million. About LVL 4 million is required to open one supermarket.
Overall, "Kesko Food" plans to invest LVL 40 million in Latvia from the company's resources and LVL 21 million from funding allotted by the European Bank for Reconstruction and Development.
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The second Citymarket" supermarket will open its doors at 68b Krasta Street at the end of this month. The company has invested LVL 4 million in this project. Floor space will be larger than that of its first store at Lielirbes Street in Riga (5,500 square meters).
Another "Citymarket" supermarket is planned for Pulkveza Brieza Street in Riga in November.
In three to five years, 10 to 15 new "Citymarket" supermarkets are planned for Riga and Latvia. Next year, the first hyper-market project is planned in Riga. The supermarkets are mainly planned near main roads.
This year, seven stores are to be opened in which goods will be offered for reduced prices, mainly located in residential areas.
Fogels informed that currently 33 "Kesko" stores offering goods for reduced prices are operating successfully in Estonia. The stores with goods for "aggressively low prices" are also planned for Latvia, and in three to four years about 60 such stores are to be opened.
Since the end of 2000, "Kesko Food" has invested more than LVL 8 million in Latvia but by the end of the year, investments in establishing the "Citymarket" network of supermarkets would total LVL 16 million. About LVL 4 million is required to open one supermarket.
Overall, "Kesko Food" plans to invest LVL 40 million in Latvia from the company's resources and LVL 21 million from funding allotted by the European Bank for Reconstruction and Development.
Ilze Zālīte LETA
Copyright © LETA