Poundland: rising above the £1 billion sales

Poundland states that they have introduced the single (and cheap) price tag concept to Europe. Riding the wave of the economic crisis, their first opening was soon to be followed by others. The company may have gone through hard times at the beginning, however that did not prevent them from inaugurating the 100th store in 2003 in Shirley, West Midlands. N°200 was only 5 years later in Doncaster, South Yorkshire. Then Poundland aimed to cross the seas and for that had to create another name: Dealz opened its first store in Dublin in 2011. Poundland was gratified with the Discount Retailer Of The Year title the very same year.

Today, Dealz sums more than 40 stores in the Republic of Ireland and more openings are planned. It has been trying its luck in Spain since last year, where the economic situation is sadly not at its best, offering a €1,50 price tag only. Poundland, the largest Europe discount chain now considers 50 openings per year, spreading 2,000 new jobs in the market annually. The company's long-term goal is to own 1,000 stores in the UK and to pursue its deployment abroad.

Last February, the retailer announced a £55m takeover of 99p Stores, its main competitor. Merging the two companies will add 251 stores to Poundland network, calling into question the competition and monopoly legislation. The Competition and Markets Authority is studying the case and should give its endorsement (and terms, most certainly) any time soon. This would nicely enhance Poundland's first quarter century of existence.

*Photo: Wikipedia/ ThisIsAce