Mr. DIY eyes Czech Republic and Hungary

Mr. DIY is setting its sights on more central European markets after its Poland foray at the tail-end of 2024 proved positive for the home goods retailer that was founded in Malaysia. Leo Gan, Mr. DIY chief operation officer, said the group is eyeing Czechia and Hungary – along with Romania, which the company already identified as a potential market last year – and is looking for partners in these markets.

"After achieving success in Poland, our next destination[s] [are] Romania, Hungary, and Czech. The retail scene in these countries holds great promise, and we are excited to become a part of it," Gan announced in a Linkedin post.

Czech home improvement market

Data from the 2024 iteration of Dähne Verlag’s flagship publication Home Improvement Report Retail Worldwide indicate that the Czech home improvement market was valued at EUR 1.41 bn in 2023. Average home improvement spending per capita in the country of 10.86 million people was pegged at EUR 131. The country’s home improvement market is dominated by German brands that together hold around half of the market.

Hungarian home improvement market

The home improvement market of Hungary, a country of 9.59 million people, was valued at EUR 698 mio in 2023, with average home improvement spending per person at EUR 72. The country’s home improvement segment is dominated by German company Obi, which commands more than half of the market share. It is followed by Praktiker, nowadays a local player, with 32 per cent.

Meanwhile, Romania, whose home improvement market reached EUR 4.1 bn in 2023 and whose people spent EUR 215 each on home improvement, was announced as a prospective market for Mr. DIY last year. The country’s home improvement scene is dominated by homegrown retailer Dedeman, which holds 56 per cent of the market.

General merchandise retailer

Mr. DIY, however, is not likely to compete with the big guns of the European DIY market - rather than being positioned as a specialized home improvement retailer in the continent, it is a general merchandise retailer that carries home improvement products. Its product selection includes stationery, sports equipment, car accessories, jewellery, cosmetics, and toys along with hardware, household, furnishing, and electrical items. The discounter, which closely identifies with its motto of “Always low prices” has been labelled as a “bazaar” in the continent.

At the moment, Mr. DIY does not appear to have already set up corporate entities in Hungary or the Czech Republic. The…