Palink

Palink is the operator of the "IKI" supermarket chain in Lithuania.

See also: List of shopping malls in Lithuania
Palink, UAB
IKI
IndustryRetail
Founded1992 (1992)
FounderGeorge Ortiz, Nicolas Ortiz, Oliver Ortiz
Headquarters
Vilnius
,
Lithuania
Area served
Lithuania
Key people
CEO Gerard Rog (2015 07-)
Revenue€0.632 billion [1] (2016)
Websitewww.iki.lt

History

Palink was founded by the brothers George, Oliver and Nicolas Ortiz.[2] The first store was opened in 1992 in Vilnius, Lithuania.

In 2005 Palink opened its first store in Riga, Latvia.

In 2014 Palink sold all IKI stores in Latvia (51 stores) to local company "Mego", stating that Palink is not interested in investing in Latvia anymore. IKI was 5th largest supermarket chain in Latvia.[3][4]

The company currently operates over 240 "Iki", "Iki Cento" and "Iki Express" stores in more than 70 cities and is the second largest retail grocer in Lithuania.[5]

In 2016, the Iki Cento brand of stores was discontinued.

References
  2. Kaminski, Matthew (2004-04-28). "From Ground Zero to the EU". Wall Street Journal. ISSN 0099-9660. Retrieved 2019-10-24.
  3. Šerėnaitė, Asta. ""Palink" parduoda prekybos tinklą Latvijoje". vz.lt (in Lithuanian). Retrieved 2019-10-24.
  4. "'Mego' pērk IKI veikalu tīklu; gaida konkurences uzraugu atļauju". delfi.lv (in Latvian). 2014-01-17. Retrieved 2019-10-24.
  5. ""Iki" į tinklo plėtrą pernai investavo 80 mln. Lt". Archived from the original on 2014-01-17. Retrieved 2019-10-24.


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