A branch of the Original Factory Shop. Image: AVM Images/Shutterstock
The Original Factory Shop is following up on the launch of its first transactional website by planning to open more than 50 new stores in the next three years.
The retailer currently sells through 166 shops around the UK and online, having launched its first transactional website and moved quickly to offer multichannel services over the last six months. It now enables shoppers to reserve products online and collect them in all of its shops.
The plans for growth at the retailer, which sells groceries and household products alongside those from brands including Orla Kiely, Under Armour and Nike, come following a pandemic in which it was able to stay open as an essential retailer. It also expects to benefit as more people opt for staycations in the coastal and tourist towns where many of its stores are located. It is financing its plans through cashflow and a new flexible lending facility and expects to create about 400 jobs.
Phil Briggs, managing director of The Original Factory Shop, says: “Our shops sit at the heart of local life, making a difference in communities. This commitment to store opening targets over the next three years is testament to the importance of convenience stores and the role that our shops play in local life and will help provide more job opportunities locally at a time when they need them most.”
The Original Factory Shop is a Top500 retailer in RXUK Top500 research. Alistair McGeorge is to rejoin the business as chairman, succeeding Matt Williams. McGeorge previously spent four years as chairman of the business – until last summer – and is also non-executive chairman at New Look.
McGeorge says: “I am pleased to be re-joining the business at such a pivotal time and I am really excited about the growth plans that are already beginning to come to fruition.”
The retailer is owned by Duke Street Private Equity.
Peter Taylor, senior advisor of Duke Street, says: “It has been a pleasure working with Matt over the last six years. He has been instrumental in the development and success of the business and we wish him the very best in his new ventures. We are now delighted to welcome back Alistair McGeorge who, having previously spent four years as Chairman of The Original Factory Shop, has a real understanding of the business.”
via https://AiUpNow.com April 9, 2021 at 08:23AM by Chloe Rigby, Khareem Sudlow,
