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Entrepreneur Temur Psuturi already building the first MaxHome store
The St. Petersburg multimillionaire Temur Psuturi is going back to his Georgian roots and intends to establish a DIY chain in Georgia under the name MaxHome. The stores will market building materials, refurbishment products and flat-pack furniture ranges. Construction of the first store in Tiflis, which covers an area of 185 000 m² and in which roughly USD 80 mio has been invested, is already half complete and it will open in 2016.
Another 15 smaller stores that have been in the entrepreneur’s possession for a while are also expected to become part of the chain. These will primarily specialise in certain products, selling only furniture, wallpaper or tiles, for example.
MaxHome is expected to have five large-format stores within five years, including four of approx. 100 000m² outside the Georgian capital, and 100 smaller outlets. By then an overall volume of investment of USD 280 mio and asset value of USD one billion is envisaged.
Another 15 smaller stores that have been in the entrepreneur’s possession for a while are also expected to become part of the chain. These will primarily specialise in certain products, selling only furniture, wallpaper or tiles, for example.
MaxHome is expected to have five large-format stores within five years, including four of approx. 100 000m² outside the Georgian capital, and 100 smaller outlets. By then an overall volume of investment of USD 280 mio and asset value of USD one billion is envisaged.
