2 Kika stores in Bucharest to rebrand as XXXLutz from February 3rd

by Romanian Reporter - Wednesday, February 3, 2021 9:47 AM

2 Kika stores in Bucharest to rebrand as XXXLutz from February 3rd

The furniture retailer XXXLutz has taken over 22 Kika stores in the Czech Republic, Slovakia, Hungary, and Romania in 2019 from the Austrian company kika/Leiner. In Romania, the deal concerned the 2 Kika stores in Bucharest's Militari and Pallady districts, which will be reopened under the XXXLutz brand on Wednesday, February 3rd.

The first Kika store in Romania was opened in December 2008, followed by the second one nine years later, in 2017.

The previous owner of kika/Leiner, Signa Holding, controlled by the Austrian businessman René Benko, bought the Kika stores network in 2018 from the South African-German group Steinhoff, which was at the time hit by a large-scale scandal and fraud accusations regarding illegal accounting practices. Steinhoff is operating in Romania the Pepco stores.

In 2019, Signa Holding decided to sell the stores outside the main market for kika/Leiner, Austria, with the intent to reinvest the proceeds in the national core business, allowing kika/Leiner's modernization program in Austria to gain further momentum.

XXXLutz's international expansion

XXXLutz entered the Romanian market in 2018, with two Mömax furniture stores, in TimiÈ™oara and Oradea.

The Austrian furniture stores brand was launched in 1945, followed by the international expansion in 1973. XXXLutz operates today 320 stores in Austria, Germany, Switzerland, Czech Republic, Slovakia, Hungary, Sweeden, Slovenia, Poland, Bulgaria, Croatia, Serbia, and Romania. It has about 25.700 employees and annual revenues of €5.1 billion.

The group owns retail brands such as Mömax, Möbelix, Kranz, Neubert, Rück, Aiko, Möma, Lesnina, Emslander, Bierstorfer, Mann Mobilia, Sparkauf, or Gamerdinger. It is the second-largest furniture retailer in Europe, after the Swedish IKEA, which will be also among the main competitors in Romania.

IKEA operates two furniture stores in Romania, also in Bucharest. The first one was opened in 2007 in Bucharest Baneasa and the second one in 2019, in Bucharest Pallady.

Photo: XXXLutz

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