From online-only to high street hero: The Range owner breathes new life into Wilko!
- Chris Dawson acquired Wilko out of administration nearly a year ago.
- The brand will return to high streets after a strong public demand.
- Plans to open up to 300 new Wilko stores in the next five years.
- The first five stores are already profitable, with a focus on essential products.
- Wilko is expanding its product range, including health and beauty, cleaning, and food-to-go.
- The online platform is set to triple in size, with over 100,000 products available.
- Dawson is exploring further retail opportunities, including garden centers.
As we approach the one-year mark since Chris Dawson, the owner of The Range, acquired the Wilko brand from administration, significant changes are underway. Initially, Dawson intended to keep Wilko as an online-only retailer, but a strong public outcry for its return to the high street prompted a shift in strategy. ‘The love for the Wilko brand was overwhelming, especially in the north,’ Dawson shared during the opening of a new store in Poole. He emphasized the importance of keeping the brand alive, stating, ‘It would be a cardinal sin not to.’ nnWith six stores now operational and the first five turning a profit, the blueprint for ‘Wilko 2.0’ is taking shape. Dawson has ambitious plans to open up to 300 stores over the next five years, although the approach has been cautious compared to competitors like Poundland. The initial openings served as a testing ground for new store concepts, with adjustments made based on customer feedback. nnThe product mix has been refined, focusing on essentials that Wilko was known for, such as health and beauty, cleaning supplies, and DIY items. The new Poole store reflects these changes, featuring a wider range of branded products and seasonal items. Additionally, Wilko’s food-to-go range has made a comeback, alongside a partnership with Iceland. nnDawson is confident that in six months, customers will find 80% of their favorite Wilko products back on the shelves. The retailer is also expanding its arts and crafts offerings and peripheral services like insurance and tool hire, ensuring customers can find everything they need in one place. nnThe successful trial of the Café Eighty Nine concept in Exeter has led to plans for further expansion of this service. To facilitate growth, Dawson has hired Matalan’s property director to oversee the rollout of new stores, with a focus on strategic locations. nnOnline sales are a crucial part of the revival strategy, with the e-commerce platform expected to triple in size. Since the acquisition, Wilko has expanded its online product range significantly, and the website is now generating double the revenue it did before. nnDawson is also exploring further retail opportunities, including potential acquisitions in the garden center sector, although he emphasizes that the focus remains on successfully rolling out Wilko. As he puts it, ‘We’re looking at loads of things – any angle to open more stores and different brands.’ With his track record, it will be exciting to see how Dawson continues to shape the retail landscape.·
Factuality Level: 7
Factuality Justification: The article provides a detailed account of Chris Dawson’s plans for the Wilko brand, including specific strategies and future goals. However, it contains some subjective language and opinions presented as facts, particularly in the descriptions of Dawson’s character and the brand’s potential. While the information is largely relevant and informative, the presence of some bias and a few dramatic phrases detracts from its overall objectivity.·
Noise Level: 6
Noise Justification: The article provides a detailed account of Chris Dawson’s plans for the Wilko brand, including store openings, product mix adjustments, and digital expansion. However, it lacks critical analysis of the broader implications of these changes and does not hold powerful figures accountable. While it offers some insights into the business strategy, it primarily focuses on promotional content and lacks scientific rigor or substantial evidence to support its claims.·
Financial Relevance: Yes
Financial Markets Impacted: Yes
Financial Rating Justification: The article discusses the acquisition and revitalization of the Wilko brand by Chris Dawson, which is a significant financial topic as it involves retail market dynamics, investment strategies, and expansion plans. The financial markets impacted include the retail sector, particularly the discount retail market, as the reopening of Wilko stores and its online presence could affect competitors like Poundland and other discount chains. The article highlights the financial implications of store openings, product mix adjustments, and the overall strategy for growth in the retail landscape.·
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: The article discusses the revival of the Wilko brand and its expansion plans but does not mention any extreme event that occurred in the last 48 hours.·
www.retailgazette.co.uk