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Slovenia Business Week no. 35/2004: Slovenian Retailer Opens Shopping Centre in Croatia

Labour Minister Vlado Dimovski, who was present at the opening of the store, labelled Era's investment as a good example of economic cooperation between the two neighbouring countries

Retailer Era and its subsidiary Era Tornado on Thursday, 26 August opened a shopping centre in Croatia's Samobor. The EUR 15m investment of the Velenje-based company comprises 30 shops with 300 employees.

Labour Minister Vlado Dimovski, who was present at the opening of the store, labelled Era's investment as a good example of economic cooperation between the two neighbouring countries.

The shelves of the new supermarket offer about 70 to 80 percent of domestic products, 10 percent of Slovenian products and about 5 percent of products sold under the international CBA trade network brand name.

Last year, Era launched a partnership with Croatia's Tornado Bakin company, one of the founders of the CBA in Croatia. This year Tornado Bakin changed its name to Era Tornado and now places second in the CBA association, which has the annual turnover of HRK 3.2bn (EUR 433.1m).

Era expects over 40 percent growth in sales in Croatia this year. The company's boom is the result of the expansion of its supermarket and shop chain, as last year's investments amounted to HRK 30m (EUR 4.1m). This year's turnover in Croatia is expected to reach HRK 620m (EUR 84m), Era says.

Earlier this month, Era and Italy's discount chain Eurospin signed a contract on strategic partnership in expansion of a chain of discount shops in Slovenia and the markets of the former Yugoslavia. Over the next two to three years, a joint enterprise, Eurospin EKO, plans to open about 80 shops in Slovenia under the Eurospin's brand name.

Source: Slovene Press Agency STA

Author: Branka Murn