Russian Retailer to Open in Hungary, Promises Prices 20% Below Market Average
- 2 Apr 2024 5:27 AM
- Hungary Around the Clock
Russian discount retail chain Mere is planning to enter Hungary, website Haszon learned.
The retailer e-mailed potential supply partners at the end of February, with the message "We are pleased to inform you that the European Mere supermarket chain will now also be available in Hungary".
According to the e-mail, Mere has ambitious plans in Hungary, as it will open 20 shops in the Budapest conurbation in the coming year and 200 units in the coming three years, targeting annual sales of €700 million.
Mere promises prices at 20% below the market average for about 1,500 products available from boxes or pallets in shops with floor space of about 1,000m2.
After the Russian invasion of Ukraine, Mere had to close its shops in Austria, Belgium, Germany, Spain and the UK.
However, it has increased the number of its shops from 13 to 30 in Serbia and wants to concentrate on Eastern Europe, according to the German sector publication Lebensmittel Zeitung.
Mere’s revenue rose by 40% last year to €5 billion.
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Mere Staffs Up: New Russian Retailer in Hungary to Display Goods on Pallets Not Shelves
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