Italy-based furniture retailer Coincasa is reported to be eyeing an entry into the Hungarian market, chiefly in cities with more than 30,000 inhabitants, Hungarian online daily hvg.hu reported today.
The company currently operates 44 stores in Italy, as well as an additional 63 stores around the world under a franchise system, the Hungarian daily added.
According to hvg.hu, prospective Hungarian franchise partners would be able to choose between two store types: an individual brand store and a shop-in-shop type of store. In the former case, a floorspace of 150-200 square meters would be needed, while in the latter case, a smaller 50-170 sqm would be available.
The online daily calculates that becoming a franchise partner would cost investors EUR 350 per sqm, with an additional storage cost of EUR 450 per sqm on average.
Competitors in Hungary that Coincasa would face should it enter the local market include Swedenʼs IKEA, Denmarkʼs JYSK and Spainʼs Zara Home.