Dm drogerie markt (Dm), a leading German health and beauty retailer, announced plans to continue its expansion in Bulgaria in 2019.
TWO NEW STORE OPENINGS THIS SUMMER
According to Andrey Petrov, Chairman of the Board of Directors, dm Bulgaria, the company is set to open two new stores in Sofia and Kostinbrod this summer. With the new locations, dm will extend its retail network in Bulgaria to a total of 80 units.
STRONG FINANCIAL PERFORMANCE
Dm posted a turnover of 72.5 million Lev (app. 37 million EUR) in the first half of the financial year (October 2018/March 2019), up by 15.19 percent compared to the corresponding period of the previous fiscal year. The chain opened five new stores and modernized three existing units in Vidin, Silistra and Burgas (Burgas Plaza Mall).
According to Mr. Petrov, dm is popular among consumers in Bulgaria due to their vast assortment that encompasses over 14,000 products across cosmetics, personal hygiene, baby care, pet care, food and home categories. The retailer also prides itself on being customer focused and employs experienced consultants to provide advice to customers.
NEW INVESTMENTS IN 2019
In 2019, dm plans to focus its investments in Bulgaria on the expansion of its retail network, as well as on store modernization. The chain has upgraded nearly 70 percent of its stores to a new retail design with enhanced layouts, wider corridors and better lighting.
Its expansion strategy is to establish a presence in smaller Bulgarian cities that do not have dm stores. At the same time, the company is seeking to further expand its market share in larger cities.
The optimal number of stores in Bulgaria, according to Mr. Petrov, is between 100 and 120.
DM - EUROPE'S LEADING DROGERIE CHAIN
Dm is one of the leading drugstore chains in Europe, operating more than 3,500 stores in 13 countries across the continent and employing more than 61,000 people in total.
The company’s assortment comprises of world-renowned brands as well as 23 company-owned discount labels such as Balea, Babylove, Alverde, Dontodent, Denkmit and dmBio.
Within the South East Europe region, the German concern is present in Serbia, Bulgaria, Bosnia and Herzegovina, Romania, Croatia and Macedonia.
Its main regional competitors are the local and international health and beauty chains Lilly, Douglas, Muller, Jasmin and BIPA.
Browse more retailers active in the region HERE.