BUDAPEST: Celebrating its 25th anniversary here, the Hungarian subsidiary of multinational retail chain Spar is investing HUF 1.6 billion in renovating seven of its stores around the country, according to a press release issued today.
A total of four stores have been renovated during the summer in four different cities around the country, the press statement noted. All the investments have chiefly been aimed at modernizing the stores so that they consume less energy.
The company announced yesterday that the franchise network in Hungary, which was launched in 2012, has grown to 107 supermarkets, and is currently seen to generate annual sales of more than HUF 30 bln.
The stores are operated by 81 franchise partners. A total of 1,300 workers are employed by the franchise, with more than half of the stores operating in the capital.
Spar Magyarország had 456 stores in Hungary at the end of last year, Hungarian news agency MTI reported yesterday, adding that it had revenue of HUF 488 bln in 2015.
Spar said it is committed to continuing expansion in the future and to keep renovating and modernizing its already operating stores.
