Macedonian hard discount grocery retail chain KAM is entering the Bulgarian market, Capital weekly reported on April 16. The retailer plans to open 20 – 25 stores in Sofia by the end of this year, and to reach 50 – 60 stores by end-2018.
The Macedonian retailer sees Kaufland and Lidl as its direct competitors in Bulgaria. Neither Kaufland nor Lidl is present in Macedonia, where KAM’s main competitors are local retailer Tinex and Greece’s Veropoulos.
KAM is owned by Goce Kamcev and his daughter Tanja Kamceva. Presently the chain has 63 units throughout Macedonia and reported a turnover of €88mn in 2015.
The first stage of the entry to the Sofia market is expected to cost about €2mn – €3mn. The retailer will operate from leased premises and will offer about 1,100 products. After developing a chain in Sofia, KAM plans to expand to Bulgaria’s second largest city of Plovdiv, located in the southern part of the country.
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