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5-year-old Kika upgrades stores, expands in major cities

Austrian home furnishings retailer Kika had HUF 20,14 billion in sales last year, HUF 7 billion more than in 2003, the company said in a press release. The company has overhauled its stores and refreshed its product range to celebrate its five-year presence in Hungary. Kika?s first annual catalog has been also published this year. The chain is planning will open several new stores in Hungary?s major cities, including Pécs, Gy?r, Debrecen, Szeged and Miskolc. Within a month?s time, Kika will introduce a new furniture retail concept known as Möbellager in Tatabánya, western Hungary, which will stock a range of inexpensive products that customers can pick up from the warehouse. Kika has three stores in Budapest and in satellite . The company will have invested tens of billions of forints on expansion in Hungary by the end of 2006. Kika has 450 employees in Hungary.