TKM Grupp confirmed as the new business name of Tallinna Kaubamaja Grupp

The general meeting of shareholders of Tallinna Kaubamaja Grupp AS held today approved TKM Grupp AS as the new business name of the group. The reason for adopting the new business name is creating greater clarity for shareholders and the public. Over the years, the group has grown to become one of the largest companies in Estonia, encompassing several different business directions. All of the brands of the group’s retail-oriented subsidiaries, such as Kaubamaja, Selver, Delice, Selveri Köök, I.L.U., Viking Motors, Viking Security, and others, will remain in use.

‘The department store segment accounted for 12% of TKM Grupp’s sales revenue last year, with the majority being taken up by supermarkets and the ever-growing car trade,’ said Jüri Käo, Chairman of the Supervisory Board of TKM Grupp. According to Käo, the change in business name provides an opportunity for clearer communication with investors.

‘The public often only connects Tallinna Kaubamaja Grupp with Kaubamaja, which is where it did begin back in the day. In reality, we have expanded our businesses significantly over the years and TKM Grupp as a name better reflects the activities of our group also in other business directions,’ said Raul Puusepp, Chairman of the Management Board of TKM Grupp. According to Puusepp, the group also has a new visual identity that creates a level playing field for all business directions and combines a dignified history with a vision for the future.