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.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.