Kmart is looking to expand into the UK as it looks to capitalise on the booming value retail market.
The Australian discount retailer has been in talks with major supermarkets in recent months over deals to replace the retailers’ existing homeware, toy or pet lines with its own Anko-branded versions.
The chain, owned by former Homebase owner Wesfarmers, is exploring partnerships which would see it manage the non-grocery business of supermarkets through its Anko Global division.
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Kmart, which is the biggest non-food retailer in Australia, generating more than £5bn in sales last year, recently appointed Arjun Puri as chief executive of its Anko brand to lead its expansion in the European market.
Puri said: “We know from our conversations with retailers around the world that they are looking for solutions to their non-core categories and I’m excited by the opportunity to share our Anko offer with them.”
Kmart’s upcoming expansion into the UK comes as the future of high street retailer Wilko remains in limbo.
Administrators PwC said last week that it was likely a possible rescue deal would see the retailer split up as interested parties were in discussion over buying parts of the business.
HMV owner Doug Putman and private equity firm M2 Capital emerged as last-minute bidders for Wilko late last week.
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4 Comments. Leave new
Well, after their massively successful takeover of Homebase they obviously have a fantastic knowledge of the UK market.
Haha, too right you may think they’ve already tried and failed so what’s different this time?!
Didn’t Wesfarmers embarrass themselves enough last time, with their crack at Homebase?
It originates in the US.