Poundland to expand into Spain under Dealz fascia
Single price retailer Poundland is to expand into Spain with the opening of up to 10 stores under its Dealz fascia.
Starting in the new financial year, Poundland will open the stores over a two-year period and use the experience gained from the first phase of openings as a platform for further rollout.
Poundland first entered Europe in September 2011 by opening two stores under the Dealz brand in the Republic of Ireland. With the estate now having grown to 31 stores, Poundland said it had already delivered a positive return on investment and had the potential for significant growth.
Jim McCarthy, chief executive of Poundland, said: “The success of Dealz in the Republic of Ireland was a clear demonstration that we have the capability to generate positive financial returns in new geographies quickly. We have been very careful and thorough in our evaluation of further European expansion opportunities and we are confident that our offer and our model suits the Spanish market well.
“We have a very detailed, low risk and low cost entry plan and the management strength and capacity, in the UK and in Spain, to execute it well. I’m confident that Poundland’s amazing value will quickly resonate with Spanish customers.”
