One of the leading retail chains in Serbia specializing in household electrical and electronic appliances, Tehnomanija from Belgrade, is expanding its operations to the Montenegrin market. The company recently registered a subsidiary in Montenegro under the name Tehnomanija Montenegro doo Podgorica, with an initial capital of one euro. The director of the Podgorica branch, fully owned by its Belgrade parent company, is Miloš Ristić.
Tehnomanija has been in existence for 25 years and, according to their website, operates over 70 retail stores, employs more than 800 people, and offers a range of over 20,000 different products. Since 2002, they have also been engaged in online sales through their own e-commerce system.
The entry of this Belgrade-based company will further intensify competition in Montenegro’s dynamic technical retail market. Currently, the market leader is Podgorica-based Tehnomax, which reported total revenues of EUR 56.84 million in 2023, marking a 10% increase from the previous year. However, their annual profit decreased by three percent to EUR 4.95 million.
Among other leaders in this market are ComTrade, Tehnoplus, Multicom, KIM TEC and Roaming Montenegro. Previously, Slovenian technical goods retailer Big Bang had also shown interest in entering the Montenegrin market.
