The furniture and decoration brand Kinda, owned by the Nuvi group, closed its four stores in Portugal and proceeded with collective layoffs. More than a hundred employees will lose their jobs. How this closure and collective layoff will be implemented has not been defined yet. The new CEO of the company, Dinis Santos, told "Jornal de Negócios."
This brand is owned by Luís Vicente, considered one of the wealthiest men in Portugal. The businessman amassed his fortune in the 1960s with the Rocha pear in Torres Vedras and expanded the project into the production and sale of vegetables and fruits.
In the 1990s, he began investing in Angola. He became the owner of Refriango, a company producing juices, and a retail chain with the brands Mega – Cash & Carry, Bem Me Quer, and Bem Perto. These companies employed over five thousand people.
In 2013, the Nuvi economic group decided to invest in another aspect of the market: furniture and decoration. That's when they created Kinda Home (though the 'Home' has since been removed from the name). In November 2018, the first store was opened in Porto. This represented an investment of over 20 million euros and generated 150 jobs. When it opened a store in Amadora last year, the fourth store in Portugal and the second in the Lisbon district, the brand's CEO, John Leitão, told the newspaper Dinheiro Vivo that 'the plan is to continue opening at least one store per year in major urban centres, so now we are already looking for next year's location'.
Source: Nit.pt