Australian budget store Kmart is setting its sights on the UK market, aiming to tap into the value retail sector.
The firm has had talks with big-name supermarkets, that are considering agreements to substitute their current home goods, toys, or pet products with Kmart’s Anko-branded items.
Kmart is considering collaborations that would allow its Anko Global division to oversee the non-food segments of supermarkets.
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Being Australia’s leading non-food retailer, Kmart reported sales exceeding £5bn the previous year.
The company employed Arjun Puri as the CEO of the Anko brand, tasking him with spearheading its growth in Europe.
He said:“From our discussions with global retailers, it’s evident they’re seeking alternatives for their non-primary segments.
“I’m thrilled about the prospect of introducing our Anko range to them.”
As Kmart plans its UK debut, the fate of high street store Wilko remains uncertain.
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Last week, PwC administrators indicated a potential rescue plan might involve dividing the retailer.
This is because potential buyers showed interest in acquiring segments of the company.
HMV owner Doug Putman and the private equity company M2 Capital, stepped forward as potential buyers in the eleventh hour.
