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Nicola’s scoop that MFI is going to make a comeback is attracting quite a lot of attention today, unsurprisingly given the brand’s iconic status in the kitchens and bathrooms market. It has been sold to Victoria Plumb, a plumbing business based in Hull, which has put a statement about relaunching the brand on mfi.co.uk, although it wouldn’t confirm whether it plans stores or just a web launch.
£250,000 for a brand as well-known as MFI isn’t a lot in the scheme of things, but I still think it’s a waste of money, because in its latter years at least the MFI brand became a byword for bad service. The tales of products which came with bits missing and missed deliveries were legion, customer service wasn’t the best and of course many customers were left in the lurch when it went under.
Woolworths was a hugely loved brand but even so I’m not convinced its relaunch under Shop Direct’s ownership has been a roaring success. Bringing back a brand which had become a standing joke as MFI had is going to be an awful lot harder, and it’s no surprise that it’s someone we’ve never heard of buying it rather than a well-known retail business or individual.
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Readers' comments (4)
Ian Purvis | 20-Aug-2010 4:49 pm
Surely you answer this question in your opening paragraph.
Could Victoria Plumb have generated as much media coverage, and subsequent consumer awareness, without this acquisition?
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Stuart Isbister | 23-Aug-2010 10:01 am
You might be right, but as a retail specialist, admitting that you haven't heard of what must be a fair sized business about sums up your big-multiple-centric approach. You should get out more. What about us little guys?
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Tim Danaher | 23-Aug-2010 12:35 pm
Better to be honest in my opinion - not saying there's anything wrong with it at all, but I'm not sure many people could name every online retailer which exists today. We are focussed primarily on the business of multiple retailing, but that doesn't mean by any means that we're not supporters of online and independent retailing.
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Ian Middleton | 23-Aug-2010 12:43 pm
The other side of this coin is how much damage could the big brand name, with all its negative baggage, do to a smaller business that is perhaps very successful in its own arena. I've said elsewhere that buying a brand name like this for a quarter of a million quid sounds like a bad move to me. There's very little goodwill there in fact I'd say the balance is probably more towards 'badwill' territory (if such a thing exists) so why would anyone waste money on associating themselves with something so negative? Sounds to me like they really haven't thought this through.
Would anyone fight over the Ratners brand if it was up for sale I wonder.
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