Spar Magyarország opens HUF 317 mln unit in Budapest
Retailer Spar Magyarország yesterday opened a HUF 317 mln unit on Vaci út 34 in Budapest, with a total area of 500 sqm, the company said in a press release.
Spar reportedly said in a statement that the company will focus on expanding its franchise network in the country this year, in line with plans announced earlier.
"The company has invested more than €1 bln in the past 24 years in Hungary, with investments of €55 mln only last year," Spar CEO Erwin Schmuck said at the opening ceremony. The CEO noted that last year’s investments created approximately 800 jobs in the country.
Spar is committed to further expansion despite the "changed economic environment in the country", the CEO noted referring to the increased oversight fee and the changes in consumer behavior following the Sunday closures.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.