Electronics retailer Maplin has announced that it is accelerating
its investment strategy under a new senior leadership team.
John Cleland, who was appointed chief executive in April 2012, is
joined by Mike Lucas, who joins from British Heart Foundation as
retail director, and Ryan Thomas, who joined the business in May
2012 as multichannel director from Comet.
Maplin opened 14 stores during 2011 and the annual rate of new
store openings is expected to more than double over the next
three years. Alongside the investment in new stores and staff,
the strategy will focus on improving the company’s operations,
marketing and customer service as well as expanding the
business-to-business division.
In addition, Maplin is investing in its multichannel services,
including website improvements and the development of additional
ecommerce platforms, comprising smartphone and social media
shopping applications. As expected, the investment in the
company’s new initiatives will have a short term impact on
EBITDA, which was £29.9 million in 2011, down from
£40.8 million in the previous year.
Share