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Poli-Farbe to establish chain of independent paint stores

Hungarian paint maker Poli-Farbe is launching a network of independent, Hungarian-owned retailers under the brand Pannon Paint Network, Poli-Farbe told MTI on Thursday.

Poli-Farbe expects 30 stores to join the network by the spring of 2012 and 140 by the end of next year.

Family-owned businesses generate about 78% of the HUF 33bn annual worth of Hungary's paint market.

Paint stores or other specialized retailers account for 82% of Poli-Farbe's HUF 7bn of annual revenue.