Company Profile: TKM Grupp AS
Overview
TKM Grupp AS is a leading and established retail and wholesale trade company based in Tallinn, Estonia, with significant operations across Latvia and Lithuania. Founded in 1960, TKM Grupp AS is a key player in Estonia's retail sector, contributing over 10% to the country's retail trade market. It employs over 4,700 people. The company has been recognized as Estonia's Most Competitive Retail Company on eight occasions.
The company's brand portfolio includes household names such as Kaubamaja, Selver, Delice, I.L.U., Tartu Kaubamaja keskus, Viking Motors, and Forum Auto, offering a diversified range of services from beauty products to department stores and automotive services.
Financial Performance
In 2023, TKM Grupp AS recorded a consolidated sales revenue of €947.3 million. During the first six months of 2024, the company achieved a sales revenue of €458.8 million, marking a slight decrease of 0.4% from the previous year. Despite this, the company saw a growth of 1.6% in the first quarter of 2024, with revenues reaching €221.5 million.
Leadership
Management Board
- Raul Puusepp, Chairman of the Management Board since 2002, with a term ending on 5th March 2026. He is a graduate in applied mathematics from the University of Tartu and has served as the chairman of the Management Board of AS Tartu Kaubamaja and a project manager at AS Eesti Post. Raul Puusepp also holds the position of Chairman of the Board of the Estonian Merchants’ Association since 2013.
Supervisory Board
- Jüri Käo, Chairman of the Supervisory Board and member since 1997. He is involved in NG Investeeringud and other TKM subsidiaries.
- Enn Kunila, Member since 2000, recognized for contributions to Estonia's cultural and business environments.
- Kristo Anton, Investment Manager at NG Investeeringud OÜ and a focus on subsidiary investments since becoming a board member.
- Meelis Milder, with a background in economics and management, has played a significant role at AS Baltika.
- Gunnar Kraft, possessing international business management experience.
Market and Operations
TKM Grupp AS holds a competitive edge through its extensive retail network and innovative consumer engagement strategies. Notable is the partner card program with over 750,000 active users in Estonia—a testament to the company's solid consumer base and loyalty-building initiatives. Strategic focus lies in sustaining its market dominance while pursuing expansion and new lease agreements through subsidiaries such as Kaubamaja AS.
Competitive Positioning
Despite being a dominant force in Estonia, TKM Grupp AS faces competition from both local and international companies like Forward Investment Group, Grkl, Kzf Investment Group, CBG Acciai, Sawcraft, and Reprochem. However, its frequent accolades as the most competitive retail company in Estonia from 2012 to 2018 underline its industry leadership.
Recent Developments and Technology
On October 11, 2022, TKM Grupp AS executed a strategic acquisition, increasing its market position. The company leverages advanced technology such as Microsoft Office 365 for communication, Zendesk for consumer support, and Google Analytics for insights into customer behavior and strategic decision-making, affirming its commitment to operational efficiency.
Key Insights
TKM Grupp’s leadership, particularly Raul Puusepp and Jüri Käo, plays a pivotal role in steering the company's competitive stance in Estonia's retail scene. Their approach to customer loyalty programs and strategic expansions presents opportunities for further tailored product offerings and partnerships. With continued focus on market adaptability through the use of modern technology platforms, TKM Grupp AS is well-positioned for sustained growth and future opportunities in its regional markets.
For more details, visit TKM Grupp's social media profiles and corporate website.
