Off-price retailer TK Maxx is planning to launch in Poland this year as it embarks on an expansion trail across Europe.
The retailer is understood to be looking at sites in the Warsaw, Krakow, Katowice and Lodz regions. According to one industry expert, Poland is a prime target for TK Maxx as it has a large British ex-pat community and an under-developed high street.
Although growth in the economy has slowed, Poland is still faring better than most of its European counterparts in the recession.
TK Maxx operates more than 200 stores in the UK, Republic of Ireland and Germany, and is believed to be planning to open another 250 stores across Europe. It is also looking to expand in Germany, after opening its first store there in October 2007.
The retailer is also understood to have employed sourcing agents in countries including France, Spain and Italy to test the markets for stock availability. Sources said TK Maxx could eventually look for retail sites in these markets.
TK Maxx, whose parent company is US discount giant TJX Companies, offers discounts of up to 60% on fashion and homeware brands.
In the year to February 25, sales at TJX Europe, which includes the TK Maxx and homeware retailer HomeSense’s European stores, rose 4% to US$2.24 billion (£1.48 billion).