The Khatnani Group, one of the historic leaders of commerce in the Canary Islands, is celebrating half a century of activity this year with solid support from international tourists who take advantage of the reduced 7% VAT applied to purchases in the region. Revenue in 2024 amounted to €36,2 million, an increase of 2,45% compared to 2023, while operating income stood at €3,3 million, compared to €2,4 million in the previous year. The group's net worth remains at €40 million, consolidating its financial position in the island's commercial sector.
The company's history began in 1957, when Douglas Khatnani arrived in Gran Canaria from India, gaining experience in bazaars targeting Nordic, British, and German tourists. His first store opened in 1966 on Calle Albareda, near Playa de las Canteras and Santa Catalina Park. Within the next four years, with the collaboration of his brothers, the group had five locations. The real strategic leap came in 1975, with the opening of a 100 m² store in Playa del Inglés, in the Metro Shopping Center, combining a boutique, bazaar, and perfumery. The arrival of the new millennium marked a major expansion for the group, with the acquisition of stores and the opening of outlets in the main tourist areas of the Canary Islands. It is now located in Meloneras, in the south of Gran Canaria.
Today, the Khatnani Group operates under two main divisions: perfumery and fashion franchises, managing brands such as Vero Moda, Superdry, Calzedonia, Mango, Esprit, and Aldo, in addition to its own high-end perfumery, Esennia. Its network of stores covers both the south and north of the island, consolidating its presence among tourists and residents.
The group's success is not only due to its broad portfolio of international brands, but also to its ability to adapt to the flow of tourists, taking advantage of tax benefits such as the 7% VAT rate, a factor that encourages purchases from British, German, and Nordic visitors, the main drivers of the tourism economy in southern Gran Canaria. The 50th anniversary of the Khatnani Group is, therefore, a testament to business resilience and adaptation to changes in tourism and commerce, consolidating its legacy as one of the island's most iconic companies and a benchmark in the integration of retail and tourism.
