KIKA Group’s exports increased 35% in 2023
The Lithuanian manufacturer and retailer is optimistic about increasing its product portfolio and market footprint this year.
KIKA Group, the Baltic region’s largest manufacturer and retailer of pet care products, increased its consolidated revenue by 10% on a year-on-year (YoY) basis to €71.7 million ($77.8M) in fiscal year (FY) 2023, ending on 29 February 2024.
The company’s retail network of 128 stores across Lithuania and Estonia was responsible for €33.9 million ($36.7M) in sales, 47% of the group’s total.
Product exports accounted for 43.5% of total sales, generating €31.2 million ($33.8M) in FY 2023. E-commerce, pet grooming and care services brought in an additional €6.7 million ($7.2M).
Exports generate a third of sales
Export sales witnessed a 35% increase YoY in the 12 months to February 2024.
KIKA exports to 65 countries, with Europe being the largest market. Last year, it expanded its footprint by adding France, Moldova, Bosnia and Herzegovina, Slovenia and North Macedonia.
The company says that Hong Kong and Taiwan were its fastest-growing markets, with a 91% and 88% increase, respectively. Ukraine (63%), Italy (57%) and Poland (50%) followed.
KIKA also won the “Exporter of the Year” title from the Lithuanian Confederation of Industrialists.
Optimistic growth
The Lithuanian pet manufacturer and retailer forecasts a 20% growth in consolidated revenue and a 30% increment in exports this year.
KIKA co-founder Tauras Plungė says that the expansion boost is expected to come from new wet food products.
“We are actively preparing for the construction of a new factory to produce highly attractive wet food in small pouch packages. This facility, to be built in Kaunas County, will enable us to expand into major European retail chains,” he concludes.
