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Austrian XXXLutz taking over Kika stores in region

Austrian furniture and decoration retailer XXXLutz will take over 22 Kika stores in the Czech Republic, Slovakia, Hungary, and Romania from the Signa group, owned by Austrian investor René Benko, Romanian news agency Mediafax reported.

Signa had taken over the Kika stores from Germanyʼs Steinhoff in 2018. The XXXLutz Group will operate over 300 stores in 12 European countries after the transaction. The group’s turnover is expected to increase by EUR 250 million, from EUR 4.4 billion currently.

“The 22 stores will perfectly complement the existing network of stores in four countries (...) Our goal is to be number one in every country and region where we operate,” said Thomas Saliger, marketing manager at XXXLutz.