German textile discounter KiK seeks a major expansion, with new stores in France, Spain, Italy, the United States and Belgium. Right now, the chain already has 3,255 stores worldwide.
Growth is slowing down
KiK's expansion plans include 1,500 new stores over the next five years, according to chairman Patrick Zahn. To that end, it has been browsing the Spanish, Belgian, Italian and French markets, but an American expansion is also an option, according to L'Echo.
KiK, founded in 1994, grew rapidly at first, but over the past few years, that growth has slowed down a lot. German turnover dropped from 1.38 billion euro (in 2012) to 1.29 billion euro in 2014, while it had to close 94 stores in its home nation. Currently, it is present in nine countries (apart from Germany also in Austria, Croatia, the Czech Republic, Hungary, the Netherlands, Slovakia and Slovenia), with a 1.7 billion euro turnover in 2014, up 7.1 % overall.