Serbian Company Launches 1st Tempo Hypermarket in Bulgaria

Serbia's largest privately-held company bought a majority stake in Bulgarian retail chain Piccadilly in September 2007 and has so far invested a total of EUR 140 M in Bulgaria. Photo by BGNES

The Deputy Mayor of Sofia, Minko Gerdzhikov, and the CEO of the retail chain Piccadilly, Alexander Camparevic, broke ground of the first Tempo store in Bulgaria Tuesday.

The hypermarket will introduce for the first time in Bulgaria a combination between 2 formats – cash and carry and soft discounter.

The Tempo store will be located in “Retail Park Sredets” in Sofia, along with several other chains, on an area of 30 000 square meters. The investment is estimated at BGN 50 M. The store will offer over 60 000 items, including including full lines of groceries and general merchandise. Its parking will have 1 000 parking spaces.

In comparison with the classic “cash and carry” stores, Tempo will not require special customer cards, allowing clients to purchase smaller packages at wholesale prices.

The store will be completed by the end of 2010. Once built, it will be open 24 hours as an additional convenience for the clients.

According to Camparevic, the company plans to expand and introduce all its formats in Bulgaria such as convenient stores Piccadilly Express, the Tempo hypermarkets and franchises.

The Serbian firm Delta Holding, the majority owners of the Bulgarian retail chain Piccadilly, recently announced they will invest EUR 80 M in Bulgaria this year.

Serbia's largest privately-held company bought a majority stake in Bulgarian retail chain Piccadilly in September 2007 and has so far invested a total of EUR 140 M in Bulgaria, including taking over the remaining 15% percent of shares in 2009.

The first Tempo hypermarket opened doors in 2004 in Belgrade and the chain now has 7 stores in Serbia.

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