Rutland Partners is pleased to announce that on 26 June 2014 it completed an investment for £85m in Maplin Electronics Limited (“Maplin”).
Maplin, the electronics specialist retail chain, is an iconic brand with a tech-savvy customer base. Its retail model is based on technological solutions and product advice built on a strong brand identity and a loyal customer base.
Maplin has focussed strongly on product and service in recent years, which has paid dividends as the electronic retailer has seen its strongest growth since 2008.
Maplin’s full year like-for-like figures have increased by 4.3% with revenue up by 6.3% to £237m. Online sales have increased to 20.6% and now represent 10% of the company turnover.
Maplin has seen its strongest Christmas sales on record, with online shopping leading the way during the festive period.
Like-for-like sales across the retailer grew by +2.3% in the period from Black Friday, 27 November, to 2 January 2016. This same period also saw online sales up +33.3%.