Kingfisher to expand Castorama to offset falling UK sales
Over the next five years, Kingfisher plans to increase the number of Castorama outlets to 70 from the current 44, as well as expanding the smaller Brico Depot chain. The investment would increase the company's share of the Polish market to 20 percent from the current 13 percent, and lead to higher profits, which totaled an impressive $1.1 billion last year.
With the financial crunch shaking customer confidence in Britain and the economic crisis destroying Poland's smaller DIY chains, the Polish market has become increasingly profitable for Kingfisher, which is now considering setting up business in other countries of the region: Lithuania and Ukraine.
Sources: Puls Biznesu, Rzeczpospolita (P.M.)
With the financial crunch shaking customer confidence in Britain and the economic crisis destroying Poland's smaller DIY chains, the Polish market has become increasingly profitable for Kingfisher, which is now considering setting up business in other countries of the region: Lithuania and Ukraine.
Sources: Puls Biznesu, Rzeczpospolita (P.M.)
