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Turkey's apparel retailer LC Waikiki on expansion spree
03 Aug '12
1 min read
LC Waikiki, Turkey’s leading apparel retailer, is planning to increase its store count abroad from the current 36 to 200 by 2015.
The company is planning to open more stores in Kazakhstan, Romania, Poland and Russia over the next three years.
It is also aiming to foray into new markets like Georgia, Azerbaijan, Saudi Arabia, Morocco and Iran.
The company is planning to take the count of its outlets in Turkey from the present 373 to 450 by 2015, according to a bi-yearly survey by market researcher Ipsos KMG.
The apparel retailer clocked a turnover of 2.9 billion liras in 2011 and has set a target of 3.75 billion (approx. US$ 2.1 billion) liras for the current year, up 29 percent year-on-year.
LC Waikiki, which was bought by Tema Group in 1997, is aiming to become one of the three most successful apparel retailers in Europe by 2023, according to the company website.
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