Trade Market in Lithuania

Published: 13 July 2000 y., Thursday
The statistics testifies, that during the last 6 years the number of the shops in Lithuania reduced to 31 % though the trade turnover has not increased. As a matter of fact, the retail market is already shared between several largest trade networks: Vilniaus prekyba, EKO, IKI, Spar, Rema 1000 LIT, Vikonda etc. Thus each year we are witnesses of processes of absorption: under the influence of competition it was necessary to correct the strategy of Pas Jouzapa rumours have passed that Vikonda is going to sell its Eko network.

And the giants amaze with the scope of their plans: it seems they want to construct a shop on each inhabitant of the Republic. So Vilniaus prekyba, which is the owner of 62 shops, by the end of the year intends to increase this number up to hundred. And six of them will have the area not less than 7 thousand sq.m. As it was already announced, after becoming the owner of a site on a place of the unfinished stadium on a crossroads of the streets Ozo and Ukmerges in Vilnius, together with the Norwegians it is going to build the huge trade and entertainments centre. The next year VP intends to open one shop even in Riga.

EKO has even more impudent plans: after signing the contract on cooperation with Swedish ICA it plans to open up to 150 shops in Lithuania. If the bargain with Vikonda is held, it will become the owner of 25 shops scattered on all country, basically in provinces. Its turnover is 200-210 millions Lt per one year.

However, this is not all. To all attributes, in the nearest future powerful invasion into the markets of French, of Spanish and of German companies is expected. German company Dr. Werner Pfeifer Objekt- Entwicklung, which has obtained a 26 ga site of the ground near a highway Vilnius - Klaipeda and which within two years is planning to construct the largest in Baltic shopping centre, showed the example.

Certainly, the firm, which is engaged in buying up the real estate, will not build anything itself. According to its representatives, it will try to use local builders. The company plans to construct three more giants in Baltic. By the way, Vilniaus prekyba, the largest trading company in the country already holds negotiations with Germans about reception of rights of the operator on management of the future centre.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

EP budget: tackling Lisbon challenges and preparing for enlargement

The European Parliament's proposal for its own operational budget for 2011 includes the financing of measures in preparation for enlargement with Croatia. more »

MEPs call for closer ties between universities and industry

Links between business and the academic world need to be strengthened but higher education institutions must retain their autonomy and public support, says a resolution adopted on Thursday by the European Parliament. more »

Elena Salgado presents the Spanish plan to save 15 billion euros at the Eurogroup and ECOFIN meetings

The Spanish Minister of Economy and Finance, Elena Salgado, will present the additional fiscal tightening measures set out by the Spanish Government to her eurozone (Eurogroup) counterparts on Monday; the measures were required by Spain’s European partners as a condition of approving the plan to bolster the euro on 9 May. more »

Commission opens in-depth inquiry into €20 million capital injections into Elan of Slovenia

The European Commission has opened an in-depth investigation under EU State aid rules into capital injections destined to two subsidiaries of state owned company Elan Skupina in Slovenia. more »

European economy making tentative recovery

GDP growth in the EU expected to gradually pick up, though recovery less robust than past upturns. more »

EESC for comprehensive financial regulation

The EESC tabled its opinion on the regulation of alternative investment funds, such as hedge funds and private funds. Although endorsing the much debated proposal of the European Commission, the EESC calls for uniform risk data provision for all such funds and emphasizes their responsibility in triggering the crisis. more »

The Eurogroup leaders conclude the Greek aid process and examine the progress of the crisis

Concluding the process and deciding on the schedule for releasing the funds agreed on for Greece, as well as examining and learning lessons from the crisis for the governance of the eurozone, will be the focus of the discussions of the heads of state and government at the meeting in Brussels this Friday. more »

Shanghai 2010 - a first for the EU

The EU pavilion at the world expo in Shanghai marks the first time the EU has presented itself to a large Chinese audience. more »

Shanghai World Expo wows the crowds

Shanghai's World Expo offers visitors plenty of fun offering bizarre things to do at over 200 pavillions competing for attention. more »

EIB supports upgrade and extension of electricity transmission network in Hungary with EUR 150 million

The European Investment Bank (EIB) is providing a loan of EUR 150 million to MVM Zrt. for the capacity increase and the extension of a high-voltage transmission network, partly constituting priority axes of the Trans-European Energy Network (TEN-E) in Hungary. more »