Lithuania's DIY retailers to face higher competition from Latvia's Depo in 2018
2016-10-24, 10:33
Published in
Economy
BFL / Andrius Ufartas
Latvia's building materials and household goods chain Depo is looking to open its first store in Klaipeda by this Christmas with plans to open four more stores in other Lithuanian cities in late 2017, which means that the Latvian retailer is unlikely to have any major impact on the market until 2018. The business daily quoted a source close to the company as saying that the opening of the Latvian chain's first Lithuanian store is planned for December and that it has plans to open more stores in Lithuania -- in Kaunas, Panevezys and Vilnius -- by the end of 2017. In Vilnius, the Latvians own land in Perkunkiemis and near Gariunai, but construction on the parcels has not yet started.
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