Kiabi’s six local stores up for sale

French fashion retailer Kiabi will exit the local market and is looking to sell its six exiting stores, informs Mediafax. The sales drop reported last year are the main reason behind the company’s decision to leave.

“We are looking for someone to take over the six stores we own inRomania– in Bucharest(4 outlets),Constanta and Cluj-Napoca,” Yann Le Blay, expansion and development manager with the company told Mediafax.

Kiabi entered the local market in 2009 and has since invested roughly EUR 3 million in the six stores it directly runs locally. The company’s initial plan was to reach a national network of more than 20 stores of store by the end of 2014.

Kiabi has some 300 stores worldwide, both directly owned and franchises. The retailer is owned by the Mulliez family which also owns the Auchan hypermarkets, the Dechathlon sportswear stores and DIY retailer Leroy Merlin.

Simona Bazavan

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