Holland & Barrett has found itself a new home in the shape of L1, but is there More to come from the health food business?
The retailer has been on a roll in recent years, posting a profit of £129.5m on sales of £424.7m in its last financial year, but there is plenty of headroom for further growth – and investment from L1 Retail should provide it.
Holland & Barrett hasn’t hit the accelerator as quickly as chief executive Peter Aldis had initially hoped on its larger More format, which plays to the consumer cravings for experience and a more prominent beauty offer.
It is behind the curve in terms of its online and loyalty card propositions – areas in which L1 Retail advisory board members John Walden and Clive Humby are incredibly well-versed.
And there is unquestionably a huge overseas opportunity, where it is yet to break into many major European countries.
Add into the mix its healthy margins and like-for-like sales growth, and it’s easy to see why L1 plumped for Holland & Barrett as its first retail investment.
Elsewhere today, we look at the potential for an ‘Uber-style pricing revolution’ and report on how Sainsbury’s hopes to fend off a possible rebellion over its acquisition of Nisa.
Quote of the day
“We have a partner who really understands the uniqueness and the ethos of the business. So much of what we do is bespoke or one-off that we cannot be an airport brand. Our wonderfully loyal customers understand that and are thrilled to see us get back to our roots”
– Theo Fennell on partnering with turnaround specialist Endless to buy back the eponymous retailer he founded
Today in numbers
Cambridge has toppled a host of London locations to be named number one in the Harper Dennis Hobbs Vitality Index, which measures the health of shopping destinations across the UK.
Luke Tugby, head of content