AS Company, an important player on the Greek toys and games market, expands its business in Romania, where it will open the second subsidiary outside Greece, profit.ro informs.
The investment is part of the company’s expansion strategy in the Balkan markets and is initiated two years after the inauguration of its subsidiary in Cyprus. AS will be the sole shareholder of the company in Romania, which is expected to be set up in April.
In Romania, AS will compete with Greece-based Jumbo, which has an aggressive expansion plan on the domestic market. Jumbo plans to reach 25 stores by 2022, from 8 how many are at the present.
Another competitor is Noriel, which also operates on the local market, controlled by the Polish investment fund Enterprise Investors, one of the largest private equity firms in Central and Eastern Europe.
Established in 1990, AS Company imports, distributes toys, as well as develops and manufactures its own toys. With more than 1,800 points around Greece, AS is positioning itself in the toy market with 15 percent share, 2nd largest share in Southeast Europe.
Apart from the toy business AS Company has expanded in the children’s clothing with the Italian brand “IDEXE” the last 4 years. AS Company is listed in the Athens Stock Exchange.