Jumbo expands into 6 new markets

Jumbo announced the signing of an agreement with the BALFIN Group for the expansion of its brand into six new markets.

Specifically, the agreement concerns the markets of Ukraine, Georgia, Armenia, Azerbaijan, Kazakhstan and Uzbekistan. As part of the partnership, the BALFIN Group will establish a central logistics hub in China to support this expanded network. The new agreement builds on the already successful presence of the partnership in Albania, Kosovo, Bosnia and Herzegovina, Montenegro and Moldova, where a new store is expected to commence operations within the year.

The agreement

According to the company’s announcement, the expansion into the new markets marks a significant evolution of the business cooperation model between the two groups. In the existing markets — Albania, Kosovo, Bosnia and Herzegovina, Montenegro and Moldova — inventory management and logistics support are primarily handled through Jumbo’s logistics operations in Greece.

Under the new agreement, the BALFIN Group will develop its own integrated logistics network and independently undertake the full management of the supply chain in the new markets, from product sourcing in China to warehousing, transportation and distribution across the Caucasus region, Ukraine, Kazakhstan and Uzbekistan.

Overall, through franchise partnerships, the Jumbo Group currently operates 46 stores carrying its brand across seven countries: Albania, Kosovo, Serbia, North Macedonia, Bosnia and Herzegovina, Montenegro and Israel.

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Organic growth remains a key strategic objective for the Jumbo Group. By the end of October, the Group is expected to launch its new store in the city of Baia Mare, Romania.

Today, the Jumbo Group operates 89 physical stores, including 53 in Greece, 6 in Cyprus, 10 in Bulgaria and 20 in Romania, while also maintaining e-commerce platforms (e-jumbo) in all countries where it operates.

According to the company, “the Group’s strong capital structure, zero bank debt and high liquidity constitute the key pillars of its strategy, enabling sustained organic growth and the gradual strengthening of its presence as a leading regional player.”