Depo DIY to Open Second Store in Tallinn
Latvian Home Enhancement Giant “depo DIY” Expands Footprint in Tallinn
Tallinn, Estonia – Latvian home improvement and household goods retailer “Depo DIY” is set to open its second store in Tallinn, Estonia, marking a significant expansion for the company. In partnership with Estonian firm “Infortar,” the new 30,000 square-meter store will be located in the Lasnamäe district, adjacent to the “Tallink” tennis center.
The project,slated for completion in the fall of 2026,represents a considerable investment of €52 million. “Infortar” will contribute €27 million towards real estate advancement, while “Depo DIY” will invest €25 million in creating a state-of-the-art retail space.
“This will be our 18th ‘Depo’ store,” said Rimants Jugans, Marketing Director of “depo DIY.”
currently, the project is in the design phase, with construction scheduled to commence in spring 2024.The new store will feature a spacious parking lot accommodating 522 vehicles. Additionally, the project includes improvements to surrounding intersections, access roads, and the construction of a new street.
This expansion follows the successful launch of “Depo DIY’s” first Tallinn store in 2020. This year alone, the company has opened two new locations: a 22,000 square-meter store in Kaunas, Lithuania, and a 31,000 square-meter store in Riga, Latvia.
“Depo DIY” has experienced notable growth, reporting a turnover of €553.216 million in 2022, an 11.6% increase from the previous year. The company’s profit also surged by 29.4% to €26.989 million.
“Infortar” is a prominent Estonian investment company with a diverse portfolio, including majority stakes in ferry operator “Tallink Grupp” and gas operator “Elenger Grupp” (formerly “Eesti Gaas”).
“depo DIY” Doubles Down on Tallinn with €52 Million Expansion
Tallinn, Estonia – Latvian home improvement behemoth “depo DIY” is doubling down on its presence in Tallinn, Estonia, with plans for a second sprawling store. This ambitious project, a joint venture with Estonian firm “Infortar,” will see a 30,000 square-meter retail space rise in the Lasnamäe district, adjacent to the “Tallink” tennis center.
the €52 million investment will see “Infortar” contribute €27 million towards real estate development, while “depo DIY” will inject €25 million into crafting a state-of-the-art retail surroundings. Expected to open its doors in fall 2026, this will be ”depo DIY’s” 18th store.
“This will be our 18th ‘Depo’ store,” confirmed Rimants Jugans,Marketing Director of “depo DIY.”
Currently in the design phase, construction is slated to commence in spring 2024. The new “depo DIY” location will offer ample parking for 522 vehicles and will also encompass improvements to surrounding infrastructure, including intersections, access roads, and a new street.
This expansion builds on the success of “depo DIY’s” first Tallinn store, which opened in 2020. This year alone, “depo DIY” has unveiled two new stores: a 22,000 square-meter outlet in kaunas, Lithuania, and a 31,000 square-meter behemoth in Riga, Latvia.
The company’s impressive growth trajectory is reflected in its financial performance.In 2022, “depo DIY” recorded a turnover of €553.216 million,an 11.6% increase from the previous year. Profit soared by 29.4% to €26.989 million.
”Infortar,” a prominent Estonian investment company with a diverse portfolio encompassing major stakes in ferry operator “Tallink Grupp” and gas operator “Elenger Grupp” (formerly “Eesti Gaas”), will play a key role in realizing this
expansion project.