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Turkish fashion retailer LC Waikiki is preparing to enter Uruguay through a partnership with Argentine billionaire Manuel Antelo’s Grupo Antelo, with plans to open five stores and invest $20 million in the country by 2030.
The retailer, which already operates in Latin American markets including Ecuador, Chile, Panama, Peru, Costa Rica, the Dominican Republic, Venezuela and Curacao, is set to add Uruguay to its regional footprint.
The first store is scheduled to open in November at Car One Center Punta del Este in Maldonado's Zone 52. A second location will follow at Car One Center in Canelones, while a third is planned for Aventura Shopping in Montevideo, according to the Uruguayan media.
The first three stores will cover approximately 1,200, 1,500, and 900 square meters, respectively. LC Waikiki's rollout will begin in Maldonado, the Montevideo metropolitan area and Canelones before extending into other parts of Uruguay.
Grupo Antelo's business development director, Luciana Godoy, will oversee the company's expansion in Uruguay. Depending on the results there, Godoy also plans to bring LC Waikiki to Argentina, Antelo's home country, with a target of opening 10 stores by 2030.
LC Waikiki closed 2025 with $6 billion in net sales, approximately 55,000 employees and more than 1,300 stores, according to the company’s latest corporate figures. It operates across over 60 countries, with a strong presence in Eastern Europe, the Middle East, Africa and Asia.
The company has identified Argentina, Uruguay, Pakistan and Syria as new markets for expansion in 2026.
Syria has emerged as a key part of that push. LC Waikiki opened its first post-war store at Damascino Mall in Damascus in May 2026, returning to a market where it had operated before the war. It also began production at a facility in the Al-Rai Industrial City near Aleppo in June, initially employing around 150 people.
Pakistan is also among the company's new markets, adding to its existing Asian footprint in countries including Kazakhstan, Kyrgyzstan, Malaysia and Uzbekistan.
The company’s biggest shareholder, Mustafa Kucuk, ranks 14th among the wealthiest Turkish people on Forbes’ billionaires list, with a net worth of $1.9 billion.
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