Fressnapf to add nine stores to its retail network

2010-07-27

Fressnapf, a pet food distributor, plans to add nine new stores to its retail network in Hungary. The company is targeting locations in department stores and strip malls surrounding Budapest downtown and in provincial cities, which were unaffordable for the retailer before the crisis.
Fressnapf is currently in negotiations with three department stores, where the offer price is €9-10 per m² for Fressnapf’s standard store of 500-600 m². Before the crisis, the company would have paid the same price for a 5,000 m² store. Rents paid at strip malls by Fressnap are around €5 per m², which is much lower than the €9-10 per m² asking price recorded two years ago.