Patisserie Valerie on track with UK expansion
According to M&C Report, Patisserie Holdings chief executive Paul May said the group could eventually have a portfolio of more than 200 sites in the UK including those for its retail bakery businesses Druckers and Baker & Spice.
The group is planning to open 20 new sites in the current financial year to September 2013. This includes the group’s first outlets in Northern Ireland and the Republic of Ireland.
Patisserie Valerie, which was established in Soho in 1926 by Madame Valerie, now operates over 90 stores throughout the UK with a further four locations opening this month in Bournemouth, Portsmouth, Gloucester and Southend.
Patisserie Holding’s chief executive Officer Paul May credits its organic openings and acquisitions for the successful national rollout.
"Despite the current climate of doom and gloom, we have continued to bring investment and job opportunities to the UK’s high streets and encourage the interest of the public who welcome the new stores,” May said.
"If anything, the enthusiasm of the public has taken us by surprise, so we have continued to look for high quality shopping venues in which to open and continue to grow Patisserie Valerie as a national brand.
"This has put us in a different market place and is why we have been able to gain so many new customers in the last year, continue to provide much needed jobs and revive the use of empty buildings in UK towns and cities."
Following a Risk Capital Partners backed management buyout in 2006, Patisserie Holdings has seen sales grow from an annualised £7.1 million in 2007 to £40 million in 2011. The group says it is on target to achieve a turnover of £49 million this year.
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