Athens, Greece. Greek retail group Jumbo on Tuesday announced a major expansion plan with Balfin Group to add new stores to its international network, which already includes a strong presence in Cyprus.
New markets
The agreement will allow the Jumbo brand to enter Ukraine, Georgia, Armenia, Azerbaijan, Kazakhstan and Uzbekistan, broadening its regional footprint.
Logistics arrangement
As part of the partnership, Balfin will establish a central logistics hub in China to support the expanded network and streamline supply chain operations across the six markets.
Existing collaboration
The move builds on an established collaboration between the two groups in Albania, Kosovo, Bosnia and Herzegovina, Montenegro and Moldova, where a new store is expected to begin operations within the year.
Business model
The expansion marks a change in the partnership’s operating model, with greater independence in the newly targeted regions.
In existing markets, inventory management and logistics have largely been handled through Jumbo’s infrastructure in Greece, supporting franchise operations across south-eastern Europe.
Under the new framework, Balfin will develop its own integrated logistics network and assume responsibility for the supply chain in the new markets, from sourcing products in China to warehousing, transportation and distribution across the Caucasus, Ukraine and Central Asia.
Current presence and plans
Jumbo currently operates through franchise partnerships with 46 branded stores across seven countries, including Albania, Kosovo, Serbia, North Macedonia, Bosnia and Herzegovina, Montenegro and Israel.
The group said it continues to prioritise organic growth as a core strategic objective alongside its franchise expansion.
A new store is expected to open in Baia Mare, Romania, by the end of October.
