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Slovenia Business Week no. 49: Mercator Opens New Shopping Centre in Sarajevo

Slovenian retailer Mercator opened a new shopping centre in Sarajevo, a SIT 3bn (EUR 12.5m) investment designed to increase its footprint in Bosnia-Herzegovina and raise its currently small market share

Slovenian retailer Mercator opened a new shopping centre in Sarajevo, a SIT 3bn (EUR 12.5m) investment designed to increase its footprint in Bosnia-Herzegovina and raise its currently small market share.

The 9,912 sq. metre shopping mall contains a supermarket, 11 smaller retail outlets and a 1,581 sq. metre gym, labelled by Mercator as its gift to the people of Dobrinja, the Sarajevo borough.

Mercator board member Stanislav Brodnjak, who inaugurated the facility on Thursday, 1 December, told the press that Mercator wants to become the largest retail chain in the country.

To achieve that, Mercator plans to open at least six more shopping centres until 2008, including in Mostar, Banjaluka, Zenica, Bihac, Bijelina and Doboj, to raise its market share from the current 2.1%.

According to Mercator BiH director Mensud Lagumdzija, Mercator has so far spent 120 million convertible marks (EUR 61m) on investments in Bosnia, a figure likely to double by the end of 2008. This makes Mercator the single largest investor here, he said.

Mercator BiH already has shopping centres in Sarajevo and Tuzla, as well as a supermarket in the capital. In the first nine months of the year it posted sales of SIT 8.6bn (EUR 35.9m).

The opening in Sarajevo was the first stop on a three-stop tour, as the company opened two more shopping centres in Serbia-Montenegro on 2 and 3 December.

Source: Slovene Press Agency STA

Author: STA