The Group bought a chain of 22 stores from the Austrian company Signa Holding, which aims to focus its investments on the development of KIKA in Austria.
“As a long-standing Austrian company, securing kika/Leiner’s future for the long term in Austria and regaining a sustainable outlook was important to us from the very outset. Signa has invested a triple-digit million figure in the Austrian core business and the modernization program is progressing extremely well. We have now taken the next step and are focusing even more on our home market,” stated in a press release Christoph Stadlhuber, CEO of Signa Holding.
Established in 1973, KIKA is today one of Europe’s leading furniture retailers with approximately 70 stores across the continent. The company’s assortment comprises of over 50,000 products ranging from DIY articles and cash & carry products to premium furniture brands.
XXXLUTZ EXPANDING IN THE SEE
The new department store consists of 20,000 sqm and is located in Novi Sad, at no. 173 Veliki rit Street. The Group has announced plans to embark on a new investment cycle and open Lesnina XXXL stores in other Serbian cities.
With a chain of over 260 stores and a turnover of 4.4 billion EUR, XXXLutz Group is one of the world’s largest retailers of furniture.
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