The Russians are coming
"We have been instructed to acquire 3,200 to 3,600 square meter outlets in locations such as shopping centers, adjoining shopping centers or in retail parks," said Peter Evans, the retail director at Lambert Smith Hampton.
Maxmedia, owned by the Russian parent company Eldorado, wants to expand from its one store location in the Janki shopping center near Warsaw, to eight major cities in Poland. Maxmedia is in negotiations for potential locations in five different cities all over Poland. Eldorado has already a strong presence on the Russian market with its 240 stores in 126 cities, as well as 22 stores on the Ukrainian market.
"Essentially, they want to emulate the success of Media Markt," Evans said. Maxmedia's expansion plans seem serious enough, as the company is looking to sign 10-year lease contracts, although, according to Evans, they are less keen on purchasing property. The retailer is therefore determined to stay in Poland for good and according to Evans "they are a very serious and professional client."
Maxmedia entered the Polish market in 1999, one year after its biggest competitor - the German Metro owned Media Markt, which has 15 electronic appliance stores all over Poland, hiring 1,100 employees and offering more than 40,000 items in stock. Maxmedia, apart from offering similar products, is able to compete with such giants as Media Markt by producing some of its goods, such as computer parts.
Representatives of Maxmedia were unavailable for comment regarding their expansion.
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