Retail chain Mercator opened on Thursday a 7,500 sq. metre shopping mall in the Croatian capital of Zagreb, dubbed Zagreb III. The investment is worth EUR 10m, director of the Croatian subsidiary Mercator-H, Alan Krickovic, told the press.
Mercator-H currently has a 6.7% share on the Croatian market, said Krickovic, adding that the company planned to establish links with a small Croatian partner by the end of the year in a bid to increase the market share by 0.5%. "Mercator's objective is to hold a 12% share on the Croatian market by 2010, which means that annual growth has to stand at between 30 and 40%," he said.
According to Krickovic, Mercator-H last year generated EUR 680,000 of net profit. Operating in the black is a huge success, as competition on the Croatian market is intense, stronger than in Slovenia, he added.
The company has recently opened a luxury store for the upwardly mobile in Zagreb, the first store of the kind in the Mercator group.
According to Krickovic, Mercator-H employs 3,000 people in 200 stores in all major Croatian cities except Sibenik. He also announced that the company would open in October a 10,000 sq. metre shopping centre in the coastal city of Rijeka.
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