Turkish fashion retailer LC Waikiki accelerates expansion in Romania as it targets top three spot in Europe

Turkey’s number one fashion retailer LC Waikiki plans to open four new stores in Romania and to hire 100 more by the end of 2015. The group has accelerated its expansion in the local market, which is part of its international growth strategy aimed at turning it into one of the top three fashion retailers in Europe. “Romania has a special importance for us because it was the first country where we started our international expansion, in 2009. We will continue our international investments in Romania, the Balkans and other regions aiming to become one of Turkey’s global brands,” said Yenal Gökyıldırım, LC Waikiki Retail Managing Director. LC Waikiki has accelerated its expansion in Romania in the last year, doubling its network to 14 stores and reaching 300 employees in the country, according to the group’s representatives. In 2014, the group’s sales in Romania reached USD 20.5 million. The average shopping cart in Romania is some USD 22 and includes 2.1 products, LC Waikiki revealed. The group currently has some 530 stores in 25 countries, three-quarters of which are in Turkey. The group’s sales were USD 2.53 billion in 2014 and its target is to reach USD 2.7 billion in 2015. By 2023, LC Waikiki plans to reach a network of 1,500 stores, 1,000 of which outside Turkey, and a total turnover of some USD 10 billion. LC Waikiki opens 3 new stores in Romania after EUR 3.6 mln investment Andrei Chirileasa, andrei@romania-insider.com