The concept of the ‘pound shop’ has existed in the British economy since the 1970s, but Poundland was the first company to launch a large-scale chain of this type of store. Since their first outlet opened in 1990 in Burton upon Trent, their business model has always been to try and drive down the costs of buying stock in bulk, and this has been made possible by various logistical setups and wholesalers.
Their continued growth during times of economic downturn has shown that there will always be a market for lower-priced items, and this has been supported by a policy of spotting stores that are becoming unprofitable as early as possible. Since they have come under the ownership of Warburg Pincus, an American private equity firm, the chain has continued to grow in high street areas that are otherwise showing signs of decline. Their product range includes both grocery and household goods, and they also stock a number of novelty and gift items.
Learn more about Poundland,
The very first Poudland store opened in December 1990, in Burton-upon-Trent. Now the discount retailer counts about 550 stores, for the UK only. It entered the stock market in March 2014. And just passed the £1 billion sales mark.