Romanian Bigger Group enters Bulgarian advertising market
Submitted by Borislava Ganeva on Fri, 06/13/2008 - 17:51.
The Romanian group of companies, offering integrated communications services, Bigger-Big Ideas Group announced its plans to enter Bulgarian market through a partnership with the local ad agency VPR Advertising.
After signing a contract for partnership, both companies plan to create a subsidiary company in Sofia. This is the first step in the expansion of the Romanian company in the Balkans. Its next targets are Serbia and Montenegro and Albania.
Bulgarian advertising market grows annually by 35%. The market is estimated at 250 million euros in 2007. Last year Bigger Group had turnover of 14.8 million euro, which represented an increase of 160% on an annual basis.
The decision of the company to enter Bulgarian market is dictated by the expansion of several Romanian companies in the region, and by the striving to attract Bulgarian customers who compete with transnational corporations.
Bigger Group's expansion in Bulgarian market will be financed with an investment of 200 000-300 000 euros in the next three years, according to the company's General Manager Marcel Straut.
According to him, the investment is expected to return in 2009. This year, Bigger Group will unify the standards in both countries and does not expect profits from its initiative.
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