Austria’s KIKA to Build a New Store in Hungary

17. Juli 2006, 00:00

Austria’s leading furniture retailer, KIKA, announced it would build a new store near the M5 motorway. It...

Austria’s leading furniture retailer, KIKA, announced it would build a new store near the M5 motorway. It is set to open doors already this year. With a total of 30,000 square meter area, and 18,000 square meter sales area, the new facility will give work to 200 employees.

Kika has earmarked EUR 100-150 million (USD 125- 187 million) for investments in the Central and East European region for the next 2-3 years. The planned investments target Austria, Croatia, Hungary, the Czech Republic and Slovakia.

Kikas investments in Hungary are expected to exceed HUF 10 billion (EUR 35.7 million) by the end of 2006.  In the financial year ending 31 March 2005, Kikas Hungarian unit posted gross sales of HUF 20.14 billion (EUR 71.9 million), a rise from HUF 13.40 billion (EUR 47.8 million) in the previous year.

Furniture and houseware store Kika, which runs three department stores in Hungary, has plans to open outlets in Miskolc, Szeged and Debrecen.

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