Gadget retailer Menkind has acquired Yorkshire rival Red5 as it seeks to expand in the UK and abroad. Retail Week takes a look at the key facts about the two retailers.

Menkind has acquired rival Red5

  • Menkind was founded by current chief executive Paul Kraftman in 2001 as a one-stop shop for ‘boys’ toys’ and gifts
  • Paul Kraftman controls his family interest in the business which amounts to an 85% stake – Paul is the controlling shareholder at 51%, while his father Gerald Kraftman owns 34%
  • The first Menkind store was opened in 2002 in Uxbridge
  • Menkind employs 450 staff – 30 of which are based in the company’s central head office – and has 40 stores across the UK, plus 20 seasonal pop-up stores planned for this Christmas
  • In 2015 Menkind reported sales growth of 30% to £35 million and a net profit before tax of £3.4 million
  • Red5 was founded in 2005 by Jonathan Elvidge and Joth Baron, who will stay on as consultants during the transition period, and has grown to a business of 220 staff
  • Red5 was set up through an investment from Freeserve co-creator Peter Wilkinson
  • Elvidge was the original creator of the Gadget Shop
  • The first Red5 store opened in Hull, it now has nine standalone stores and four concessions in Hamleys and Selfridges
  • Red5 reported an 18% sales growth to £18m in its 2015 financial year and pre-tax profits of £1.3m
  • Red 5 also sells its own brand product through Argos, Boots and John Lewis
  • Red5 attracts younger buyers, while Menkind’s gifting range appeals to the more mature customer
  • The bestselling products in the gadgets category include drones and Bluetooth speakers
  • The bestselling products in the novelty gifting range include pop vinyls, selfie sticks, and extendable backscratchers