Reál signs cooperation agreement with Slovakian alliance
Friday, February 3, 2006, 15:46
Reál Hungária, a company set up by Hungarian-owned shops and supermarkets, has signed an agreement with Slovpos, a Slovakian purchasing alliance, to harmonize their strategies, online business news portal portfolio.hu reported on Friday. Reál Hungária was set up five years ago when Hungarian shop owners banded together to protect their markets from multinational retailers. Since starting up with just 80-90 units and combined annual turnover of under Ft 90 billion, Reál Hungária has become Hungary's fifth-biggest chain of supermarkets with yearly turnover of Ft 280 billion and more than 2,200 members. Slovpos's members are together the third-biggest presence on Slovakia's market. Together, the Hungarian and Slovakian companies aim to preserve the small, locally-owned shops in city centers of both countries.