LC Waikiki expands its presence in the Greek market

Turkish covering concatenation LC Waikiki is strengthening its beingness successful the Greek market.The company, which entered the Greek marketplace successful 2018, is claiming a important stock successful the accelerated manner market, having already go a strong rival to the Inditex radical and H&M.

The Greek subsidiary’s extremity is to make a web of 30 stores by 2026. In 2022, it moved dynamically successful this absorption by opening 4 caller stores, however, successful 2023 it “slowed down” its improvement plans successful terms of the network. In 2023, which is the year with the latest published data, the web was strengthened with a caller store, raising LC Waikiki’s total home beingness to 13 stores.
The crushed is said to prevarication successful the information that the concatenation is looking for ample commercialized spaces, arsenic a effect of which the complaint of enlargement successful the Greek marketplace appears to beryllium slowing down. However, the aforesaid is not true successful terms of revenue.

Results

At the extremity of 2023, the chain’s turnover amounted to 33.2 cardinal euros, signaling an summation of 43.7% compared to '22 when income totaled 23.1 cardinal euros.

In terms of profitability, the motion remained negative, with losses earlier taxes amounting to 478 thousand euros and nett losses to 561 thousand euros.

It is noted that the archetypal LC Waikiki store successful Greece opened successful 2018 astatine the Flamingo buying halfway successful Xanthi and then expanded to large cities such arsenic Thessaloniki, the Sonae Sierra–Bluehouse discount buying halfway successful Larissa, the Fashion City Outlet, the Mare West buying halfway successful Corinth, the Patra Mall successful Patras, the River West buying halfway and the Piraeus Retail Park, etc.