Germany-based Tchibo coffee maker is planning to invest some DM23 million over the next three years to become market leader in Romania by 2003.
The investment plan for 2001 amounts to DM4 million, with the investments scheduled to increase by 70-85% over the next few years, compared with the previous year, Eduard Berea, Tchibo representative in Romania, told Ziarul Financiar.
"Our goal in Romania is to be market leaders. The first step is to open a local branch in three weeks," Berea said. The investments will target distribution and promotion of the company's products on the Romanian market mainly.
Tchibo now holds 4% in the Romanian coffee market and is planning to reach 8-9% by the end of the year and "catch up with Jacobs" by 2003, according to Berea.
He also said that the main company whose market share Tchibo "wants to eat into" is Elite, the current market leader.
Eli Rachmut, Elite Romania general manager commented: "Elite would like to wish Tchibo good luck, because as long as there is fair competition, the coffee market in Romania will experience a development in terms of diversity and product quality."
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