After Woolworth recently announced ambitious expansion plans for the German market, it is now the turn of other European countries. The department store group sees potential for up to 5,000 department stores across Europe, confirmed a spokesman for Woolworth GmbH when asked by FashionUnited.
In Poland alone, 400 locations are to be built in the next few years, with the company considering 15 to 20 locations between May 2023 and April 2024 to be realistic. There are no concrete plans for the following year, but the number of new openings could definitely be increased, according to Woolworth. The specialist magazine Textilwirtschaft had previously reported on the expansion plans.
New subsidiary in Austria
Woolworth is also planning a market launch in Austria. It is not yet known exactly when this will follow, but Woolworth Austria GmbH was founded at the beginning of May to set the course. Incorporating the company is a first step in creating the legal basis for operations in the country, according to a Woolworth spokesman.
In the medium term, the Austrian company is to have its own management, but the business is currently managed by Oliver Penner and Petar Burazin. Together they form the management of Woolworth Österreich GmbH. Both managing directors are meanwhile also working for Woolworth, Penner since 2015 as managing director of finances and Burazin since last October as managing director of sales/countries.