Electronics retailer Maplin has announced that it is accelerating its investment strategy under a new senior leadership team.
John Cleland, who was appointed chief executive in April 2012, is joined by Mike Lucas, who joins from British Heart Foundation as retail director, and Ryan Thomas, who joined the business in May 2012 as multichannel director from Comet.
Maplin opened 14 stores during 2011 and the annual rate of new store openings is expected to more than double over the next three years. Alongside the investment in new stores and staff, the strategy will focus on improving the company’s operations, marketing and customer service as well as expanding the business-to-business division.
In addition, Maplin is investing in its multichannel services, including website improvements and the development of additional ecommerce platforms, comprising smartphone and social media shopping applications. As expected, the investment in the company’s new initiatives will have a short term impact on EBITDA, which was £29.9 million in 2011, down from £40.8 million in the previous year.
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