By George Lampiris
A triple expansion step of the cosmetics brand, Kiko Milano is currently being implemented by the Fais group, according to information from Capital.gr. In this context, the group has planned and has already established subsidiaries in Cyprus and Romania, with which it will develop the network of the cosmetics company, whose master franchisee is for Greece, Cyprus, Bulgaria and Romania. A third subsidiary is expected to be created by the group with the aim of expanding Kiko Milano’s presence in Bulgaria.
As far as Cyprus is concerned, it premieres and will open two stores by the end of February in Nicosia and Larnaca. Then two more stores will be created until May in Paphos and Nicosia (on Makarios Avenue). The Fais group has created the subsidiary SLF Cyprus, having identified all its growth points in this market during this year.
The focus is on development through stores in Romanian malls
In Romania, Kiko Milano’s development plan focuses on malls, which will house the stores that will be created. At the moment, the executives of the Fais group are in search of places that will house the Kiko Milano stores. In this case, too, a subsidiary has already been established under the name SLF Romania.
In Greece, stores were created in 2021 in Glyfada, Patras and the shopping center of Thessaloniki, One Salonica. In addition, it maintains stores in the Mediterannean Cosmos of Thessaloniki, in The Mall Athens as well as a pop-up store in Notos, Thessaloniki.
In the frame Heraklion, Ioannina, Larissa and areas of Attica
The planning for the Greek market includes the further expansion in Attica but also in cities of the region. Areas of interest are Heraklion, Ioannina, Larissa, Kalamata as well as several areas of Attica such as Nea Ionia, Nea Smyrni, Kallithea, Peristeri and Northern Suburbs provided the appropriate stores are found.
It should be noted that the first complete financial year for Kiko Milano through the company’s SLF Greece interests of the Fais group, which manages it was in 2020, a year that coincided with the pandemic. Therefore, the first safe conclusions regarding the activity and the course of the brand in Greece will be drawn based on the financial results of 2021, when they are published.
Source From: Capital
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