Altex, the largest domestic retail network of electronics and home appliances has closed 32 outlets last year, which covered a total surface area of over 9,000 square metres, while the stores opened in 2006 under Altex brand covered a 28% smaller area.
The home appliances retailer underwent a rebranding process and developed a campaign through which the company evaluated the performance registered by its outlets last year, which resulted in the change of the outlets' distribution by geographical regions. The company's whole retail area topped 80,000 square metres through the Altex and Media Galaxy store chains at the end of last year.
"Last year we carried out a development programme through which we increased the efficiency of the Altex network. During the programme we closed some small outlets, which did not fit Altex's current strategy and objectives any longer and, simultaneously, we opened new large stores. The programme will continue in 2007 and it will have the same goals," said Dan Ostahie, general manager of Altex. The total area of the Altex stores that were closed in 2006 stood at a little over 9,000 square metres, while the stores that have been opened and reopened last year took up over 11,600 square metres.
"The dual chain strategy allows for a better adaptability to the market development, it reduces the impact of the market decline on one hand - through the small outlets, and increases the efficiency of the results triggered by the market growth on the other hand - through the large stores," Ostahie stated.
Altex's nationwide network currently comprises 100 Altex and 14 Media Galaxy outlets, with a total sales area of over 80,000 square metres. Altex opened 6 new Media Galaxy stores in 2006, three of which are located in Bucharest, taking up over 20,000 square metres.
The change of the distribution network is not the only action that the group held by businessman Dan Ostahie took in a bid to reorganise the company.
At the end of last year, 99% of Altex shares have been sold to the Dutch company Bomenveld BV, a holding that is part of the Do group, held by Dan Ostahie and his wife.
"Altex went for a corporate structure because it has significantly expanded its nationwide coverage and increased the number of companies held by the group in the past year. This growth also entailed a structure that would ensure a strategic and decisional unity in the entire holding," explained the company's representatives.
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