Sunday 25 September 2016

Tiger burning bright with profits of €1.1m at Irish outlets last year

Published 15/10/2015 | 02:30

Tiger was founded by Lennart Lajboschitz.
Tiger was founded by Lennart Lajboschitz.

The Tiger retail chain in Ireland, which sells Scandinavian-style bric-a-brac, posted a €1.1m profit last year.

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The chain is 50pc-owned by the Danish parent behind the business - Zebra A/S - with the remainder owned by husband and wife team Niall Stringer and Gillian Maxwell.

They opened their first Tiger store in Dun Laoghaire in 2011.

They had seen the chain during a visit to the UK and subsequently secured the franchise for Ireland.

There are now 18 outlets in Ireland.

The accounts for Tiger Retail Ireland show it has a €130,000 loan from Zebra and an outstanding €130,000 loan from Mr Stringer. Zebra is the sole supplier of all the goods sold by the Tiger shops. Last year, the Irish arm bought goods worth just over €3m from the Danish firm, compared to €1.2m in 2013. Some of the top-selling items at the stores here include bottled water, pens, ribbons, candles and AA batteries. There are 512 Tiger stores in 26 counties. It opened its first store in New York in May this year.

The chain was founded by Lennart Lajboschitz.

He and his wife opened a shop called Zebra in Copenhagen in 1998.

A second pop-up shop opened later, and the chain was then branded under the Tiger name.

In 2012, Mr Lajoboschitz sold a 70pc stake in the Tiger business to EQT, a private equity firm linked to Sweden's wealthy Wallenberg family. The group made a €26m profit last year, as sales rose 24pc to €330m.

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