Croatia’s Studenac Targeting 3,400 Stores By 2028

By: Trademagazin editor Date: 2024. 09. 16. 09:14

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Croatia’s largest retail chain by store count, Studenac, sees significant potential for further expansion, according to Dragan Baškarad, a member of the retailer’s management board.

Speaking during a conference organised by the American Chamber of Commerce in Croatia and private equity company Enterprise Investors (EI), Dragan Baškarad noted that the company is aiming to increase its store count to 3,400 within the next five years, reported local daily Novi List.

He highlighted the ongoing consolidation of the Croatian retail market and the remaining 15% market share held by traditional stores as opportunities for growth. He pointed out that Studenac plans to capitalise on these opportunities through acquisitions and the opening of new stores.

According to Baškarad, the Croatian retail market is estimated to be worth over €10 billion and is expected to grow by up to 5% annually in the coming years, which means its value could jump to around €13 billion by 2028.

He added that Studenac’s ‘neighbourhood store’ format sets it apart from other retailers in Croatia, adding that this concept has been a driving force behind the company’s rapid expansion and success.

Studenac currently operates more than 1,300 stores in Croatia and recently began to expand in neighbouring Slovenia.

ESM