Retail news round-up October 7, 2013: Ikea’s new UK boss plans to double revenues by 2020, Bonmarché to open in garden centres, John Lewis to provide free two-year electricals guarantee
Ikea’s new UK boss plans to double revenues by 2020
Gillian Drakeford, the new head of Ikea UK, plans to double annual revenues in Britain to more than £2bn by 2020 by opening more stores and expanding online. The furniture giant said its expansion plans will see it boost its share in Britain from 6% to more than 12%.
Ikea has not opened a store in the UK since February 2009, but is now planning three more stores in Reading, Sheffield and Exeter and is overhauling its superstores to make shopping a more enjoyable experience, reported The Telegraph.
Bonmarché to open in garden centres
Clothing retailer Bonmarché plans to open in garden centres as it aims to take advantage of their mature customer base.
The womenswear retailer, owned by investment group Sun European Partners, has entered into a deal with The Garden Centre Group that will allow it to open clothing stores. He first will open at Bicester Avenue Garden Centre in Oxfordshire this Friday followed by three or four branches in other garden centres over the next few months as a trial.
John Lewis to provide free two-year electricals guarantee
John Lewis is to provide a minimum two-year guarantee on all its electrical products at no extra cost from October 10. The department store already offers five-year guarantees on TVs, and two-year guarantees on computing, tablets and domestic appliances.
The retailer told The Guardian all electricals and home technology products bought at John Lewis will get two years of protection against faults and breakdown.