Carrefour opens historic first Bulgarian store

There is a very healthy and exciting alliance growing between east and western Europe in retail at the moment, and it’s in the shape of Carrefour’s venturing into Bulgaria to stretch its commercial reach.

 

Europe’s second biggest supermarket chain is to open its first store in the Bulgarian market.

 

The group has signed a long-term lease with Grand Mall in the Black Sea port of Varna, Orchid Development announced today. Carrefour will be the largest hypermarket in Varna and, at 9,300 sq metres, will be also the mall’s biggest tenant.

 

The deal between grand Mall and Carrefour indicates a great corporate relationship and great trust, especially in view of the fact that the contract is set to run for thirty-three years.

 

The mall is to be the biggest of its kind in Bulgaria, with 150,000 square metres to devote to commercial and business space. The complex will be built on five levels and will boast more than 150 shops. In addition, customers will enjoy a cinema, restaurants and cafes, a children’s corner and fast-food outlets. There will also be 1650 spaces in an underground car park.

 

This venture will hopefully prove to be both expansive and fruitful to Carrefour, who recently suffered a 44.7% loss in profits due to the global recession.