XXX Lutz is buying five Kika stores in Slovakia

Austrian furniture retailer XXX Lutz is buying 22 stores of its competitor Kika in Slovakia, Hungary, Czechia, and Romania from company Signa (Rene Benko). The price was not disclosed. Signa took over Kika for a symbolic sum last year and wants to focus on its local Austrian market. XXX Lutz aspires to become the market leader in every country where it is present. In Slovakia, XXX Lutz has seven stores under the Möbelix brand that had €47.6m in sales in 2017. Kika has five stores in Slovakia that had €36.7m in sales last year.

(sme.sk)