Tallinna Kaubamaja Grupp

What Tallinna Kaubamaja Grupp does

Tallinna Kaubamaja Grupp AS (TKM Grupp) is an Estonian publicly listed diversified retail and trade holding company operating across six business segments: supermarkets (Selver, 70+ stores plus E-Selver online), department stores (Kaubamaja in Tallinn and Tartu), automotive dealerships (Kia, Škoda, Opel, Peugeot, Cadillac across Estonia, Latvia, and Lithuania), beauty retail (I.L.U./TKM Beauty, with L'Occitane boutiques), security services (Viking Security and Walde wholesale), and real estate (TKM Kinnisvara, ~130,000 m² of commercial space). The group also operates Kulinaaria for prepared-food production and TKM Finants for consumer credit products. In 2025 consolidated sales revenue reached €919.6 million across 4,700+ employees, representing approximately 10% of Estonian retail trade.

The group is unified commercially by the Partnerkaart loyalty program — Estonia's largest with over 750,000 active regular customers — which connects the supermarket, department store, beauty, and financial services brands for cross-selling and direct marketing. Distribution is overwhelmingly physical retail and B2B service delivery, with e-commerce platforms (E-Selver, Kaubamaja e-shop, I.L.U. e-shop) and a Partnerkaart mobile app as digital channels. The automotive segment runs on authorized dealer agreements with Kia (exclusive Baltic wholesale via KIA AUTO AS) and Škoda (multiple Baltic dealers), with vertical integration into service and used vehicles. B2B revenue is generated through Viking Security (manned guarding, security system installation, cash logistics) and Walde (wholesale distribution of security systems).

The business model is fundamentally transactional retail: revenue is generated per-unit/per-transaction across consumer-facing stores, automobile dealerships, and B2B service contracts. The company is headquartered in Tallinn, listed on Nasdaq Tallinn (ticker: TKM1T), and led by CEO Raul Puusepp since 2013. Recent capital allocation has emphasized inorganic growth in the automotive segment, notably the January 2026 announcement to acquire Rohe Auto AS, SKO Motors OÜ, and SKO Motors Kinnisvara OÜ to consolidate the Škoda franchise in Estonia.

Name

Tallinna Kaubamaja Grupp

Legal name

TKM Grupp AS

Website

https://tkmgroup.ee

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

TKM Grupp AS is an Estonian publicly listed diversified retail holding company operating supermarkets (Selver), department stores (Kaubamaja), automotive dealerships (Kia, Škoda) across Estonia, Latvia, and Lithuania, plus beauty retail, security services, and real estate, unified by a 750,000+ member loyalty program and serving Estonian and Baltic consumers and businesses.

Ownership category

akta.pro rank

NAICS

Grocery and Convenience Retailers (4451), Convenience Retailers (445131), All Other General Merchandise Retailers (455219)

SIC

Retail-Grocery Stores (5411), Retail-Variety Stores (5331), Retail-Auto Dealers & Gasoline Stations (5500)

akta.pro primary industry

Grocery & Specialty Food Marketplaces (CRAFABAE)

akta.pro secondary industry

Memberships, Clubs & Loyalty Subscriptions (CRAFAIAE)

Keywords

• Supermarket retail
• Department store retail
• Automotive dealerships
• Beauty retail
• Security services

Headquarters

HQ city

Tallinn

HQ country

Estonia

HQ region

Europe

Offices15 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Revenue model

1. Supermarket Operations (Selver): Revenue from retail food sales through 70+ Selver stores, 2 Delice branded food stores, and nationwide E-Selver online platform. 2025 revenue: 622 million euros.
2. Car Trade (Automotive Segment): Revenue from new and used vehicle sales, maintenance, and repair services through dealership network across Estonia, Latvia, and Lithuania. Brands include Kia, Škoda, Opel, Peugeot, Cadillac. Revenues: KIA AUTO AS (98.72M€), Forum Auto (31.57M€), Verte Auto (28.99M€), Viking Motors (35.01M€), UAB KIA Auto (34.78M€), Rohe Auto, SKO Motors, Motus Auto.
3. Department Store (Kaubamaja): Revenue from fashion, food, home goods, beauty, and children's products through Kaubamaja department stores in Tallinn and Tartu, plus nationwide e-commerce. 2025 revenue: 94.38 million euros.
4. Beauty Retail (TKM Beauty): Revenue from cosmetics and beauty accessories retail through I.L.U. stores in Tallinn, Tartu, and Pärnu plus e-commerce, and wholesale/import of beauty brands including L'Occitane, Elemis. 2025 revenue: 10.05 million euros.
5. Security Services (Viking Security): Revenue from B2B security services including manned guarding, security system installation and maintenance, cash logistics, and inventory services. 2025 revenue: 24.39 million euros.
6. Real Estate (TKM Kinnisvara): Rental income from commercial property portfolio including Tallinn Kaubamaja, Tartu Kaubamaja shopping center, 18 Selver stores, 5 commercial buildings in Latvia, Viimsi Keskus shopping center. Total rental area approximately 130,000 m². 2025 revenue: 17 million euros (parent) + 4.28M€ (Tartu) + 1.23M€ (Latvia).
7. Prepared Food Production (Kulinaaria): Revenue from large-scale prepared food production for retail and food industry customers, catering, and event catering services. 2025 revenue: 30.95 million euros.
8. Security Systems Wholesale (Walde): Revenue from wholesale distribution of security and alarm systems, access control, intercom, fire alarm, and evacuation systems to installers. 2025 revenue: 3.21 million euros.
9. Financial Services (TKM Finants): Revenue from financial and credit products offered to customers of group companies. Established 2020.

Go-to-market motion3 records

Distribution channels6 records

Marketing channels4 records

Core offering

TKM Grupp AS is a diversified retail and trade group operating supermarkets (Selver chain with 70+ stores), department stores (Kaubamaja), beauty retail (I.L.U.), automotive dealerships (Kia, Škoda, Opel, Peugeot, Cadillac across the Baltic states), security services (Viking Security), security-systems wholesale (Walde), real estate (TKM Kinnisvara with ~130,000 m²), prepared-food production (Kulinaaria), and financial services (TKM Finants). The group's retail outlets are unified by the Partnerkaart loyalty program with 750,000+ members.

Product overview

TKM Grupp AS operates as a diversified retail and wholesale group comprising multiple business segments: supermarkets (Selver chain with over 70 stores plus Delice and E-Selver), car trade (KIA wholesale and Viking Motors/Rohe Auto/Forum Auto/Verte Auto/Motus Auto retail dealerships), department stores (Kaubamaja in Tallinn and Tartu), beauty retail (I.L.U./TKM Beauty with L'Occitane boutiques), security services (Viking Security and Walde wholesale), and real estate (TKM Kinnisvara managing ~130,000 m2). The group's retail stores are unified through the Partnerkaart loyalty program with over 750,000 customers, Estonia's largest. Financial services are offered through TKM Finants, and food production through Kulinaaria OÜ.

Differentiator

Problem solved

Functional benefit

Brands

• Selver: Supermarket chain with 70+ food stores across Estonia, 2 Delice branded stores, and nationwide E-Selver delivery service
• Delice
• I.L.U.
• Partnerkaart
• Kaubamaja
• Tartu Kaubamaja

Quantifiable outcome

• 10% of Estonian retail market
• +2 more outcomes

Named customers3 records

Segments4 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Ten partnerships are on record, tiered core and moderate.

• KIA AUTO AScoreChannel Partner/ Reseller/ DistributorKIA AUTO AS (founded 1994) is KIA's exclusive representative and wholesale distributor in the Baltic region. TKM Auto OÜ holds this subsidiary as part of its automotive segment. 2025 revenue: 98.72 million euros.
• VIKING MOTORS AScoreChannel Partner/ Reseller/ DistributorAuthorized dealer for Kia, Opel, Peugeot, Cadillac brands, and official service provider for Corvette, SAAB, and Hummer in Estonia. Founded 1993. 2025 revenue: 35.01 million euros.
• SIA FORUM AUTOcoreChannel Partner/ Reseller/ DistributorAuthorized Kia, Peugeot, and Cadillac dealer in Latvia. Founded 2007. 2025 revenue: 31.57 million euros.
• VERTE AUTO SIAcoreChannel Partner/ Reseller/ DistributorAuthorized Škoda dealer in Latvia. Founded 2017. 2025 revenue: 28.99 million euros.
• UAB KIA AutocoreChannel Partner/ Reseller/ DistributorAuthorized KIA dealer in Lithuania. 2025 revenue: 34.78 million euros.
• UAB Motus autocoreChannel Partner/ Reseller/ DistributorAuthorized Škoda dealer in Lithuania. 2025 revenue: 4.18 million euros.
• ROHE AUTO AScoreChannel Partner/ Reseller/ DistributorAuthorized Škoda dealer in Tallinn and Harjumaa since 2009. Offers new, used, and rental vehicles plus maintenance and repair services. 57 employees. Awarded 'Best Dealer 2023' by Škoda.
• SKO Motors OÜcoreChannel Partner/ Reseller/ DistributorAuthorized Škoda sales and service center in Laagri, established 2013. Grown to large customer base with high customer satisfaction. Offers new, used, and rental vehicles.
• L'OccitanemoderateChannel Partner/ Reseller/ DistributorTKM Beauty operates 2 L'Occitane boutiques in Tallinn and holds distribution rights for L'Occitane products in Estonia.
• Elemis, Erborian, Revlon, Pixi, InglotmoderateChannel Partner/ Reseller/ DistributorTKM Beauty holds distribution/agency rights for these international beauty brands in Estonia, including Elemis, Erborian, Revlon, Pixi, and Inglot.

Scale indicators6 records

Recent moves4 records

Expansion highlights5 records

Broad incumbents

• G4S Estonia: International security services provider operating in Estonia, directly competing with Viking Security in manned guarding, cash logistics, and security system services. A larger global player now part of Allied Universal.
• Inchcape plc: Global automotive distributor with distribution rights for multiple brands across markets. Provides a comparable reference point for the automotive distribution/dealership business model that TKM Auto operates across the Baltics.

Direct peers

• Lidl Estonia: German discount retailer Lidl has expanded into Estonia and competes directly with Selver on price in the grocery segment. Its continued Baltic expansion represents a key competitive threat to the group's core supermarket business.
• Rimi Baltic (ICA Gruppen): Swedish ICA Gruppen's Baltic subsidiary operates Rimi supermarkets across Estonia, Latvia, and Lithuania. Direct competitor to Selver in Estonian grocery with similar portfolio of hypermarkets, supermarkets, and discount stores.
• Coop Estonia (ETK): Estonian retail cooperative Coop operates a network of grocery and general merchandise stores across Estonia, including the Maksimarket and Konsum banners. Direct competitor to Selver in Estonian grocery retail.
• Prisma (SOK Corporation / S-ryhmä): Finnish cooperative retailer Prisma operates hypermarkets in Estonia, competing with both Selver supermarkets and Kaubamaja department stores in the broader Estonian retail landscape.
• Maxima Group: Lithuanian-owned Maxima is one of the largest supermarket chains in the Baltic states, directly competing with Selver in Estonian grocery retail. Both operate similar multi-format grocery strategies including discount tiers and private label.
• Stockmann: Finnish department store chain Stockmann operates in the Baltic region with similar mid-market positioning to Kaubamaja. Both target fashion, beauty, and home goods consumers in Estonia.

Regional players

• Olympic Entertainment Group: Estonian-listed diversified gaming/entertainment group with similar conglomerate-style structure and Baltic regional presence. While in different sectors, it provides a comparable reference for Tallinn Stock Exchange-listed diversified holding companies.
• Tallink: Estonian-listed transportation and tourism company serving the Baltic region. A peer reference for another flagship Tallinn Stock Exchange-listed company with regional Baltic operations and established Estonian consumer brand recognition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries20 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tallinna Kaubamaja Grupp