A popular home decor chain known as ‘little Ikea’ is set to expand its presence in the UK by doubling the number of stores. Søstrene Grene, which gained a loyal following since its UK debut in 2016, offers a range of Scandinavian-designed homeware, kitchen products, gifts, and stationery in a layout reminiscent of Ikea and Flying Tiger stores.
The Danish retailer has opened 47 new locations this year, with a focus on the UK and Germany. The company plans to open an additional 20 stores by 2025, aiming for around 100 stores in the UK by 2027. Revenue in the UK has surged by 130% year-on-year, leading to significant growth.
Søstrene Grene’s group CEO highlighted the exceptional performance in the UK, attributing it to a successful Christmas season and increasing customer loyalty. In contrast to other retailers closing stores, the brand’s expansion plans signal a positive trend in the retail sector.
On the other hand, JD Sports reported a decline in like-for-like sales, impacted by challenging market conditions. Despite this, the company remains focused on operational efficiency and cost control. The CEO expressed confidence in managing uncertainties and maintaining profitability in line with market expectations.