VILNIUS - Finland's SOK business group has announced plans to open what will be Lithuania's third Prisma hypermarket in Kaunas after the opening of its first store later this year.
Prisma Pramones in Kaunas will be opened in the latter part of 2010.
Prisma believes that Lithuania is a great market to move into at the moment, the director of its Lithuanian subsidiary told The Baltic Times.
"Lithuania is a very attractive market for retail chains. There are not so many real hypermarkets in Lithuania and we think that there is room for Prisma. Prisma has been very successful in Finland and Estonia," said Anu Huuska, Managing Director of Prisma LT.
"I think this is a good time to introduce Prisma hypermarket to Lithuanian customers, because in Prisma we will have low prices."
The three new Prisma hyper-markets will be the first of about seven to be opened, most of which will be in Vilnius. The first location, in Vilnius' soon to be completed Ozas shopping mall, is expected to create 130 jobs.
"Prisma will be opened in the latter part of the year 2010. Our aim is to achieve a strong position in the hypermarket trade. We will open six to seven Prisma stores in Lithuania, of which four to five will be in the capital," Huuska said.
Huuska expects Lithuanians to like Prisma.
"Prisma is a hypermarket. Prisma offers a wide range of products. The selection includes groceries, clothing, home goods, leisure products and home electronics."
"In our first Prisma we will have approximately 60,000 different products. Prisma's biggest promise to customers is to offer constantly low price level. Prisma will be competing mainly with all food retailers."
About 4 million euros in investment will go into the 11,000 square meter Kaunas hypermarket.
In the first phase, 600 parking spaces will be constructed. An additional 600 spaces will be built later. Zabolis Partners are the local developers.
"There are densely populated residential areas in the immediate proximity of Prisma Pramones. Some 105,000 people live within two kilometers of the store," a SOK press release said.
"The new Prisma is located in a traditional place of business, at the corner of two busy streets. Permanently low prices, extensive product ranges and easy shopping are Prisma's competitive advantages in the Lithuanian market area."
The first Prisma will be opened in the Ozas shopping center in Vilnius in the autumn of this year. The size of Prisma Ozas is 10,000 square meters.
The second Prisma hypermarket of 11,000 square meters will be the anchor tenant of the Olinda shopping center and it will be opened in the beginning of 2011.
