Spar retailer to invest €50 mln in Albania

Tirana Times
By Tirana Times October 11, 2016 09:53

Spar retailer to invest €50 mln in Albania

TIRANA, Oct. 11 – Netherlands-based Spar International, one of the world’s largest retailers, has opened its first two stores in Albania and is planning to expand its chain with ten hypermarkets and 100 supermarkets under a €50 million investment in the next 15 months.

Spar has entered Albania in partnership with Albanian-owned Balfin Group, one of the country’s biggest companies already operating the country’s two biggest shopping centers outside Tirana, and also engaged in mining and construction operations.

“Working in true co-operation with the Balfin Group, we are able to unite the best of international with the best of local, creating an excellent proposition of value, service, quality and choice for our customers in Albania,” said SPAR International Managing Director, Tobias Wasmuht at the launch of a 7,200 m2 hypermarket at a commercial center just outside Tirana, now rebranded as Interspar, formerly Carrefour.

Entry into Albania brings to 44 the number of countries where Spar currently operates and marks its second international expansion for 2016. Spar International reported global retail sales in 2015 of €33 billion from over 12,100 stores across four continents, the Dutch giant said.

The Dutch embassy in Tirana described Spar’s Albania entry as another economic connection between Albania and The Netherlands.

“We are very pleased that Spar International, a Dutch brand and one of the biggest international in food retailers, is now present in Albania,” it said.

Tirana Times
By Tirana Times October 11, 2016 09:53