The Turkish Zaras that sweep the country “go down” to Athens
Last year, its sales in our country, with stores closed due to restrictive measures and without e-shop, amounted to 7.18 million. Small profits decreased by 2.91% compared to 2019. Smaller profits decreased by 3.01% while the net improved by 3.16% and the short-term increased positions amounted to 1.53 million euros decreased by 38.18% compared to the year 2019.
The story of LC Waikiki
Launched in 1988 from Paris, LC Waikiki passed into Turkish hands in 1997. The goal is to be one of the three largest brands in the field of European clothing within the next two years, and without naming, it wants to be close to Inditex (Zara) and H&M. The commercial presence started only in 2000 in Turkey, in 2009 it opened its first store abroad, in Romania and last year it had reached 100 stores. The main shareholder is Mustafa Kucuk, whose fortune, according to Forbes, is currently estimated at 1.6 billion. dollars.
Since August 2020, when it opened its first store in Peru, it has a presence on four continents, while the weight in 2021 fell mainly on the African continent where it expanded to markets such as Ivory Coast, Ghana, Angola, Senegal. Today it has 1120 stores in 51 countries (mainly Eastern Europe, Middle East, Africa) with 3,000 employees at its headquarters and 47,000 at its stores.
Following the tactics of Inditex and H&M, it created different brands, such as LCW Home with household items, LCW Dream (the first store opened in July 2020 at the Flamingo shopping center in Xanthi), LCW Steps with shoes, LCW Modest, LCW Baby etc.