Mega Avans looks for investor to help eclipse Media Markt

Mega Avans, the discount electrical goods supermarket chain, is planning to open 16 outlets over the next three years and threaten the dominant position of German Media Markt. "We can launch four to five stores from our own funds. We have already commenced negotiations with external investors concerning their financial engagement," said Jacek Domeradzki, general director of Grupa Avans. The company has already opened two stores, while the remaining 14 will require zł.100-120 million. Mega Avans hopes to acquire a financial investor, which could take over a minority stake in the firm. Then, a year later, the firm would be floated on the stock exchange. Jacek Domeradzki claims that thanks to an elastic approach and decentralized management structure, his firm can quickly react to changing consumer demand and tastes. (Puls Biznesu, pp. 1, 8) M.M.