Electrical store Dixons to be rebranded under Currys name
Europe's biggest electrical retailing group, DSG, is to rebrand its Dixons stores in Ireland under the Currys name, and expand its presence here into the online market.
DSG, which has been struggling to cope with a downturn in consumer spending in the UK, said that the move would see seven of its eight Dixons stores become Currys outlets, while another store located in the Jervis Street shopping centre in Dublin would become a PC World outlet.
British computer and electrical retailer Maplin, which is owned by Montagu Private Equity, already operates a store adjacent to the shopping centre. It has six stores in the Republic of Ireland.
Declan Ronayne, managing director of DSG in Ireland, said Dixons' exit from the high street had not been prompted by any decline in performance, and added the transformation would allow the group to more clearly differentiate the Currys and Dixons sales channels.
The total number of DSG-owned stores that will operate under the Currys name following the change will be 17. Another Currys store in Donegal operates as a franchise.
Sales at DSG's Irish arm rose just 5pc to roughly €210m in the 53 weeks to the beginning of May this year, after posting a near 30pc rise to €199.8m in the 12 months to the end of April 2007, when it made a profit of €10.1m.
Mr Ronayne added that sales growth was being tempered by the weak consumer environment, but said the rebranding had not been influenced by the wider downturn.
He declined to say when the Dixons Irish website would go live, but added that an online presence was also planned for both Currys and PC World.
DSG is also due to open a Currys outlet in the Leinster area in the coming months, creating 25 jobs.