Jumbo is discussing the possibility of a new collaboration to expand the franchise agreement to more countries with the Balfin Group of Albanian billionaire Samir Mane, its Board Chairman, Apostolos Vakakis has revealed.
Vakakis gave details about the possibility of cooperation during a 29 April conference call with analysts , stating that the discussions with Balfin Group concern expansion into six new "northern" markets through a franchise. The head of the listed company stressed that the Balfin Group is willing to invest in infrastructure to expand into new countries. It is an early effort, he said, which is seeing Jumbo discussing signing a franchise agreement when it will be considered beneficial. He spoke about the Balfin Group's intention to create new warehouses in China for goods for specific countries, which he did not name.
Balfin Group belongs to Samir Mane, who, according to Forbes, is the first Albanian national to join its well-known billionaire list.
Born in Korçë in 1967, Mane is a self-made entrepreneur. His journey began in the early 1990s, when he left Albania and found himself in Vienna as a refugee. There, he took his first steps in business, trading electrical appliances to the Balkan markets, at a time when the demand for consumer goods in the region was growing rapidly.
Mane gradually built up a wide business network, laying the foundations for the creation of Balfin Group, one of the largest private investment groups in Southeastern Europe. The group evolved into a multi-sector player with a presence in sectors such as retail, shopping centers, real estate, banking services and logistics.
The Balfin Group now also owns Tirana Bank, Albania's fifth-largest bank, and is involved in real estate.
Mane's business strategy was largely based on the development of organised retail networks and modern commercial infrastructure, essentially introducing the mall model to the Albanian market. At the same time, he expanded his activity beyond the country's borders, creating an investment footprint that extends to many European markets as well as the United States. Mane is also active in Bosnia, Kosovo, Montenegro and FYROM, where he maintains the country's largest shopping centre, Skopje East Gate. In addition, he has investments in residential and commercial real estate in Austria, Canada, New York and New Jersey.
Today, Mane's fortune is valued at approximately $1.8–1.9 billion, while his presence remains particularly strong in any discussion regarding major investments and partnerships in the region.
