ProCook chief executive Lee Tappenden has identified London and Northern areas of the UK as “target areas” for store openings, Retail Week can reveal.
The kitchenware specialist is working on a medium-term strategy to reach 100 UK stores, grow to £100m in revenue, and achieve 10% operating profit margin.
Its full-year results posted today (June 24) revealed its store estate across the country currently sits at 78, revenue increased to £85.5m and operating profit margin is now at 5.7%.
“Of the 13 stores opened last year, eight were in our new store design format with a very different look and feel – it’s much more contemporary, premium-looking and easier to navigate,” Tappenden told Retail Week.
“The new formats are actually overachieving. It’s very encouraging, and that’s the format that we’re going to be deploying for the rest of this year.”
He also named London and the north as target areas for growth, with its latest store openings having been on the south coast.
“We are underserved in the greater London area, but equally there are quite a few Midlands to northern cities that we’re not in as well,” he explained.
“We’re not currently in Liverpool, Newcastle or Derby. Greater London and quite a few of the northern cities are still a target area for us.”
Beyond store plans, Tappenden sees an opportunity to “do much more on TikTok and YouTube in the future” as social media lends itself to recipe inspiration and product advertisement.
It follows ProCook’s investment in paid social, and the group also laid out plans to invest over £1m in technology over the next two to three years to unlock AI, customer, and operational benefits.
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