The second store of Austria-based home furnishings retailer kika in Bucharest will open until the end of the year, following a EUR 14 million investment, a press release informs.
The new unit is located on Theodor Pallady Boulevard, in the eastern part of the Capital, thus preparing for competition with Swedish Ikea, which in turn will open a store in the same area in 2018.
“Customer demand on the market in Romania has developed well in 2017, our results have grown continuously in recent years. Thanks to this positive development, we decided to continue our expansion plan with a new, modern store in the 3rd district of the Capital,” Gunnar George, CEO kika-Leiner Group stated.
kika’s new store, set up in the former OBI store, will cover an area of 12,000 sqm including warehouse and parking, providing 80 new jobs in Romania.
The official opening is scheduled for December this year.
The Austrian retailer entered the Romanian market in 2008, when it opened its first store, in Bucharest West Park. kika Romania achieves an annual turnover of over EUR 15 million.