Economy
Euronics to expand Hungarian network to more than its double in 3 yrs
Commercial director Róbert Fajcsi told a press conference in Budapest they plan to expand the Hungarian Euronics chain from the current 64 units to 138 by early 2016. He added that 98 of these 138 stores would be their own and the remaining 40 will be operated in a franchise system. The latter units will be set up mostly in towns with fewer than 20,000 inhabitants.
Vöröskő Ltd. has 742 employees and the expansion - planned primarily in the eastern part of the country - will add 300 people to the headcount, Fajcsi said.
The network will be expanded in three steps. Firstly, they will open eight to ten 600-1,000-square-metre stores in larger cities, then another ten on 400-600 sqm and reach the target in the third step.
Fajcsi reminded that Vöröskő Ltd. has become the majority owner of the Euronics brand in Hungary this June and it will have exclusive right to use this brand name as of 1 January 2014.
Vöröskő has also launched a franchise programme, in scope of which they plan to sign up 20 to 30 new partners next year. The Veszprém-headquartered Vöröskő Ltd. has been operating for 24 years and joined Euronics International Ltd. in 2001.
Euronics International, Europe's largest buying group in the CE market, achieved a sales volume of over EUR 17.6 billion in the 2012 financial year. The company is represented in 30 European countries at more than 11,000 locations, reaching over 600 million consumers.
Vöröskő Ltd. posted gross revenues of over HUF 41 bn last year, after HUF 36.84 bn in 2011 and HUF 28.45 bn in 2010. The company’s net profit reached HUF 240 m in 2012, unchanged from 2011.
According to company data, Euronics had a market share of 20.93% last year, up from 17.62% in 2011.
Vöröskő Ltd. has 742 employees and the expansion - planned primarily in the eastern part of the country - will add 300 people to the headcount, Fajcsi said.
The network will be expanded in three steps. Firstly, they will open eight to ten 600-1,000-square-metre stores in larger cities, then another ten on 400-600 sqm and reach the target in the third step.
Fajcsi reminded that Vöröskő Ltd. has become the majority owner of the Euronics brand in Hungary this June and it will have exclusive right to use this brand name as of 1 January 2014.
Vöröskő has also launched a franchise programme, in scope of which they plan to sign up 20 to 30 new partners next year. The Veszprém-headquartered Vöröskő Ltd. has been operating for 24 years and joined Euronics International Ltd. in 2001.
Euronics International, Europe's largest buying group in the CE market, achieved a sales volume of over EUR 17.6 billion in the 2012 financial year. The company is represented in 30 European countries at more than 11,000 locations, reaching over 600 million consumers.
Vöröskő Ltd. posted gross revenues of over HUF 41 bn last year, after HUF 36.84 bn in 2011 and HUF 28.45 bn in 2010. The company’s net profit reached HUF 240 m in 2012, unchanged from 2011.
According to company data, Euronics had a market share of 20.93% last year, up from 17.62% in 2011.
