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

Georgia: Kakheti Regional Road Improvement Project

The Kakheti Regional Roads Improvement Project for Georgia aims to reduce transport costs and improve access and traffic safety for the Kakheti regional roads. more »

The Cultural Days of the European Central Bank 2009 come to an end

“Don Quixote – Made in Romania” brought the curtain down on the Cultural Days of the European Central Bank (ECB) 2009, with an expressive combination of tap dance, folklore, pantomime and martial arts. more »

The capital of the Latvian bank AS “Latvijas Krajbanka”, managed by Bank SNORAS, increased by LTL 45 million

The Latvian Finance and Capital Market Commission permitted Mr. Vladimir Antonov, who is also the main shareholder of AB Bank SNORAS, to acquire and manage up to 33 per cent of the shareholding of the Latvian bank AS “Latvijas Krajbanka”. more »

New Asphalt Plant

On October 30, the French-capital company “Eurovia Lietuva” opened a new asphalt plant near the capital city Vilnius. The company invested EUR 3.5 million into the new factory which is located near the old manufacturing facility to be closed soon. more »

The shareholders of AB Bank SNORAS endorsed increasing the authorized capital up to LTL 500 million

During the extraordinary general shareholders' meeting of AB Bank SNORAS, which took place on 5th November 2009, it was decided by additional contributions to increase the authorized capital of the bank by more than LTL 88 million. more »

New Asphalt Plant

The French-capital company “Eurovia Lietuva” opened a new asphalt plant near the capital city Vilnius. more »

Baltic Banking Among the Most Advanced in CEE

“Banking Market in the Baltics 2009-2011, CEE Banking Brief” report recently presented by Intelace Research states that, despite the current economic recession, Estonia, Latvia and Lithuania are still among the most advanced banking markets in Central and Eastern Europe (CEE). more »

AB Bank SNORAS will include LTL 72.5 million bond emission in the second level capital of the bank

The Bank of Lithuania permitted AB Bank SNORAS to include in the second level capital LTL 72.5 million (EUR 21 million) worth emission of termless debt securities distributed via non-public distribution on 31st August this year. more »

Financial, Economic and Social Crisis Committee holds opening session

The remit of the Parliamentary Committee set up to examine the financial crisis was debated at its first meeting on Wednesday (4 November). more »

Borderless banking

Europeans can now use direct debit from their home account to pay bills anywhere in the EU. more »