Praktiker opens 20th store in Hungary

Retail

Do-it-yourself retail chain Praktiker today opened a 12,000 square-meter store in Budapest, which is the retailerʼs 20th and also the biggest in the country, according to reports. The chain is planning further openings in the coming years.

Praktiker’s newest store has been opened in the Váci Corner complex on Budapestʼs north-south Váci Corridor, responding to a pickup in the property market, said Managing Director Karl-Heinz Keth, who owns 25% of the home improvements company, according to Hungarian news agency MTI. The remaining 75% of the company is held by Hungaryʼs Wallis Asset Management. 

Praktikerʼs sales rose more than one-quarter to HUF 32.5 billion last year, according to MTI.

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