Ikea's greatest competitor enters Serbian market

South African group Steinhoff International has completed the process of acquisition of the famous furniture retailer Kika, T-portal has reported. This South African company is now the owner of the Kika brand in seven countries, including Serbia and Croatia.

The Steinhoff Group is not a well-known player in our region, but it should be noted that it is the world's second largest furniture manufacturer and retailer, Croatia's T-portal reports.

In 2011, Steinhoff took over the French brand Conforama Holding, the second largest furniture retailer in Europe that also operates Emezeta stores in Croatia.

This group sells its furniture in more than 2,000 stores world wide, about 900 of which are situated in Europe. With an annual revenue of EUR 10 billion, Steinhoff is the second largest furniture maker in the world and the main competitor of Ikea.