Taxes and Laws Force Delhaize Group out of Hungary

The Belgian retailer Delhaize recently exited the Hungarian market due to a new tax in the country. This “special retail tax” impacts foreign retailers only, and combined with increasing competition in the retailing market, forced Delhaize’s three brands, Cora, Math and Profi, to sell their property to other retailers. The exit comes at a good time for retailers in Hungary seeking to expand their network as growth has been limited due to Hungary’s “Plaza Act” – a law passed in 2012 restricting the building of new outlets larger than 300 square meters.Lots of brands claim to be number one… but can they prove it?At Euromonitor International, we help brands build trust through evidence-based research. Our claim validation service ensures your marketing messages are backed by real data. Stand out in a crowded market. Visit euromonitor.com/claims to learn more.