THE WHAT? Kiko Milano is expanding its Latin American presence with its entry into Uruguay, committing €8.55 million over five years to establish a network of eight stores, with the market potentially serving as a springboard for further regional expansion.
THE DETAILS The Italian cosmetics brand will enter Uruguay in partnership with Grupo Antelo, opening its first store in Montevideo in late October. Kiko Milano plans to establish four stores and launch e-commerce during its first year before expanding to eight locations over five years. Sofía Torrendell, who joins after 17 years at L’Oréal, will lead the business as General Manager of Kiko Milano Uruguay. The expansion is expected to create 100 jobs.
THE WHY? The investment strengthens Kiko Milano’s footprint in Latin America as part of its wider international growth strategy. Performance in Uruguay could also determine whether the brand expands into neighbouring Argentina, providing another avenue for growth beyond its existing network of more than 1,300 stores across 72 countries.
Source: Modaes
