Kik plans to open 20 new stores on the Czech market, bringing the total number of stores in the country to 200. The German low-cost fashion retailer is also planning to expand from shopping centers to street locations. The company entered the Czech market 10 years ago. The retailer’s Czech CEO, František Wagner, says the Czech and Slovak markets are the most successful for Kik. Revenue grew by 20 percent last year, while Kik’s profit hit CZK 145m in the Czech Republic. Customer numbers rose by 2 million over the past two years to 14 million. Wagner says that thanks to the withdrawal of some of the competing chains, the market now has the capacity for 50 to 100 new store openings. Kik has increased the size of its stores. It’s currently looking for 650 sqm units, up from 350 sqm of floorspace its stores initially started out with.
