Impressed by the competition

I mentioned in my last post that a book chain Tikbooks, were opening a new store close to mine, just off plaza Santo Domingo
I've already stated that they shouldn't have much of an effect on my business. I do things, like new books and book presentations, that they don't. However we do overlap as regards budget books and sales of books via the web.
Since finding out about their new store I've done a little research and dug out this article (in Spanish).
Apparently the business, was started by an Argentinian, Fabio Snaider, here in Spain, and he launched the business with just 500 books (at that time he just sold books via the internet). He now boasts of 6 stores in Madrid (the new one will make 7) and has over 70,000 books available online, so it's getting to be quite a large operation. The most impressive part is that all the books in-store cost a maximum of 2 euros 90 (and 5 books sell for 10 euros), which is very cheap even for second hand books in Madrid.
I can only say I'm impressed with how his business has expanded, and expect to see more Tikbooks outlets open up in Madrid (and perhaps in other parts of Spain).