Tiger thriving in the UK
The Danish low-price retailer Tiger is successfully hunting on the UK’s shopping streets.
Christened the 'posh pound shop' by the Brits, it opened in the UK in 2005 and was ideally placed to take advantage of the financial crisis.
Last year, the strategy paid dividends as its pre-tax profits jumped more than 60 percent to £2.5 million on the back of an increase in sales from 14.7 to £21.3 million.
IKEA on speed
Maureen Hinton, a retail analyst at Conlumino, told British newspaper the Guardian that Tiger is “an IKEA marketplace on speed”, while Tiger's UK managing director Philip Bier hopes it will be just as successful.
"Just because it is affordable, it doesn't need to be nasty," Bier told The Guardian. "The bulk of what we sell costs £1 to £3. There are no gimmicks, no loyalty cards or sales, we don't do 99p. It's just very clean."
The UK is currently embracing Scandinavian chic. Swedish and Danish brands like H&M, Cos and Clas Ohlson are expanding, and with 43,000 shops lying empty in the UK, its fashionable high streets are looking to fill the gaps.