Trade Market in Lithuania

Published: 13 July 2000 y., Thursday
The statistics testifies, that during the last 6 years the number of the shops in Lithuania reduced to 31 % though the trade turnover has not increased. As a matter of fact, the retail market is already shared between several largest trade networks: Vilniaus prekyba, EKO, IKI, Spar, Rema 1000 LIT, Vikonda etc. Thus each year we are witnesses of processes of absorption: under the influence of competition it was necessary to correct the strategy of Pas Jouzapa rumours have passed that Vikonda is going to sell its Eko network.

And the giants amaze with the scope of their plans: it seems they want to construct a shop on each inhabitant of the Republic. So Vilniaus prekyba, which is the owner of 62 shops, by the end of the year intends to increase this number up to hundred. And six of them will have the area not less than 7 thousand sq.m. As it was already announced, after becoming the owner of a site on a place of the unfinished stadium on a crossroads of the streets Ozo and Ukmerges in Vilnius, together with the Norwegians it is going to build the huge trade and entertainments centre. The next year VP intends to open one shop even in Riga.

EKO has even more impudent plans: after signing the contract on cooperation with Swedish ICA it plans to open up to 150 shops in Lithuania. If the bargain with Vikonda is held, it will become the owner of 25 shops scattered on all country, basically in provinces. Its turnover is 200-210 millions Lt per one year.

However, this is not all. To all attributes, in the nearest future powerful invasion into the markets of French, of Spanish and of German companies is expected. German company Dr. Werner Pfeifer Objekt- Entwicklung, which has obtained a 26 ga site of the ground near a highway Vilnius - Klaipeda and which within two years is planning to construct the largest in Baltic shopping centre, showed the example.

Certainly, the firm, which is engaged in buying up the real estate, will not build anything itself. According to its representatives, it will try to use local builders. The company plans to construct three more giants in Baltic. By the way, Vilniaus prekyba, the largest trading company in the country already holds negotiations with Germans about reception of rights of the operator on management of the future centre.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

Commission closes investigation into agreement between Bratislava Airport and Ryanair

The European Commission has today decided to close the formal investigation procedure into the agreement between Bratislava Airport in Slovakia and Ryanair after concluding that the airport operator acted as a market economy investor and therefore no advantage has been granted to Ryanair. more »

Jamaica: Agriculture Ministry and World Bank to Assess Weather-Risk Model for Coffee Industry

The coffee industry of Jamaica represents one the largest earners of foreign exchange, approximately US$30 million in 2008. more »

IMF Executive Board Concludes 2009 Article IV Consultation with Mauritius

On January 13, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Mauritius. more »

IMF and World Bank Announce US$1.6 Billion in Debt Relief to Afghanistan

The World Bank's International Development Association and the International Monetary Fund have agreed to support US$1.6 billion in debt relief for the Islamic Republic of Afghanistan. more »

New study on "Public Goods provided by Agriculture in the European Union"

The Common Agricultural Policy plays a critical role in helping farmers to deliver environmental goods and services, provided that policies are targeted in the right way. more »

Commissioner Samecki encourages Croatia to use EU investment as a launch-pad for growth

Regional Policy Commissioner Paweł Samecki will meet Croatia's Prime Minister Jadranka Kosor and members of her government in Zagreb on 25-26 January to discuss the country's preparations for accession in the context of the EU cohesion policy. more »

Dominican Republic: World Bank approves US$20 Million to Foster Local Development through Municipalities

The World Bank Board of Directors today approved US$20 million for the Dominican Republic in support of the Municipal Development Project, which aims to improve the technical and financial capacity of local governments. more »

EIB supports with EUR 400 million development of automotive sector in Romania

The European Investment Bank (EIB) is lending EUR 400 million to Ford Romania SA for the expansion and refurbishment of the company’s existing car assembly plant located in Craiova in the South-West of Romania. more »

The Agriculture Council studies ways to improve the functioning of the food supply chain

The Agriculture Council of the European Union has examined ways to improve the functioning of the food supply chain with the ultimate aim of controlling the fluctuation in prices and ensuring a more equitative distribution of the added value throughout the chain. more »

806 construction workers in Lithuania to receive help from EU Globalisation Fund

The European Commission has today approved an application from Lithuania for assistance under the Globalisation Adjustment Fund (EGF). more »