Greek retail giant Jumbo S.A. has announced a major franchise-led expansion across Eurasia after signing a new agreement with BALFIN Group to develop the Jumbo brand in six new markets; Ukraine, Georgia, Armenia, Azerbaijan, Kazakhstan, and Uzbekistan.
The latest move significantly expands Jumbo’s international footprint and strengthens its long-standing partnership with BALFIN, one of the Balkans’ largest retail and diversified investment groups founded by entrepreneur Samir Mane.
Under the agreement, BALFIN will establish a dedicated logistics hub in China to independently manage sourcing, warehousing, transportation, and last-mile distribution across the new territories. The model represents a strategic shift for Jumbo, which previously handled much of the franchise supply-chain support through its Greece-based logistics network.
According to Jumbo’s official announcement, the agreement marks a “fundamental evolution” in the operating model between the two companies.
The expansion builds on an existing partnership that already covers Albania, Kosovo, Bosnia & Herzegovina, Montenegro, and Moldova, where another Jumbo-branded store is expected to open later this year.
Founded in 1986 and headquartered in Greece, Jumbo is among Southeast Europe’s largest value retail chains, known for toys, baby products, stationery, seasonal merchandise, home décor, and lifestyle products. The company is listed on the Athens Stock Exchange and operates through a mix of company-owned stores and franchise partnerships.
Today, the Jumbo Group operates 89 physical stores, including 53 in Greece, 20 in Romania, 10 in Bulgaria, and six in Cyprus, while also running e-commerce operations across all active markets. Through franchise collaborations, the brand additionally operates 46 stores across seven countries including Albania, Kosovo, Serbia, North Macedonia, Bosnia & Herzegovina, Montenegro, and Israel.
The company said organic growth remains a core strategic priority, with a new Jumbo store in Baia Mare, Romania, expected to open by October 2026.
Jumbo also highlighted its strong financial position, noting that its “strong balance sheet, zero bank debt and high liquidity” continue to support its regional expansion strategy.
The expansion comes at a time when the Caucasus and Central Asia regions are witnessing increased trade, logistics, and infrastructure investments, driven partly by the rise of the “Middle Corridor” connecting Europe and Asia through Georgia, Kazakhstan, and the Caspian region.
Industry observers view the latest agreement as a major franchise and supply-chain play that allows Jumbo to scale rapidly into emerging consumer markets while limiting direct operational and capital exposure.
