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

"The ocean of tomorrow": €34 million dedicated to multidisciplinary research projects to reconcile maritime activities with the preservation of seas and oceans

The European Commission launched "The ocean of tomorrow " call for research proposals. Oceans cover about 70% of the Earth's surface, but human activity is increasing environmental pressure on them. more »

Georgian businesses get additional access to finance

The EBRD is stepping up its support to the real economy in Georgia with new funds for on-lending to local businesses. more »

Lithuania's Ambassador to Germany discussed how to renew the crediting of the export of goods to Lithuania

Lithuania’s Ambassador to Germany and Special Representative for EU External Relations in the German Foreign Office discussed the situation regarding the decision of private credit insurance company in Germany Euler Hermes to apply the rating of a maximum risk country for Lithuania. more »

Parex banka signs subordinated debt agreement with the EBRD

Peter Reiniger Business Group Director for Central Europe and the Western Balkans from the European Bank for Reconstruction and Development visited Latvia to sign subordinated loan agreement with Parex banka. more »

28 million EU support for the promotion of agricultural products

The European Commission has approved 16 programmes in 12 Member States to provide information on and to promote agricultural products in the European Union. more »

Support for struggling dairy industry

New measures to help farmers through recession as milk prices tumble. more »

Bernanke sees economic signs of life

Federal Reserve Chairman Ben Bernanke said the outlook for the long-suffering U.S. economy appears to be improving. more »

International support to modernize water sector in Kyrgyzstan

The Swiss Government and the EBRD are providing €11.8 million to improve the supply of water to some 1 million people living in Bishkek, the capital of the Kyrgyz Republic. more »

The European Commission allocates €70 million for key investment projects in the EU’s Neighbourhood

The Neighbourhood Investment Facility (NIF), a key instrument of the intensified European Neighbourhood Policy (ENP), will benefit in 2009 from a €70 million contribution by the European Commission. more »

EBRD supports construction sector in Romania

In response to the impact of the global crisis on the Romanian construction sector, the EBRD is supporting Lafarge Ciment (Romania) S.A. with a €20 million loan in Romanian lei to finance the company’s operations and to support its working capital requirements. more »