Homesavers to triple headcount to 1,200 in €10m nationwide expansion
Homeware chain Homesavers is to invest an additional €10m into its business as it bids to become a nationwide retailer.
The company, which is headed up by former Iceland Ireland chief executive Tom Keogh, plans on opening more than 20 stores this year and trebling its workforce to 1,200.
Homesavers will next open in Wexford, Nenagh, Tallaght, and Dundalk. Further plans are also in place for sites in Limerick, Monaghan, Galway, and Cork.
Keogh, who also spent time heading up the Gala Retail chain, said the landscape for retailing in Ireland had "permanently changed".
"Our ambition is to be a nationwide brand. A rapid expansion plan saw us open 12 stores in the last eight months and a further 20 stores will open in 2019 at which point we will have a presence in 22 counties," he said. "Our planned stores trend toward the larger store format and our locations are a mixture of retail parks and High Street to provide our customers with a variety of options."
The company's expansion plan has been backed by Bank of Ireland, which has granted the company €10m in debt facilities.
Keogh said that the new investment will support the creation of another 800 jobs by the end of the year.
"Gone are the days when people will pay premium prices for everyday goods, they expect to be able to buy quality products for a reasonable price," Keogh said.
"The consumers' continued focus on value and choice is more prevalent than ever and this is what Homesavers strive to deliver on."
He said that by the end of the year, the business will have invested more than €20m in total into its expansion so far.
Sunday Indo Business