Expansion into Europe for a UK general retailer
Developed a robust European expansion plan for a fast-growing PE-backed retailer in the UK.
Based on this rigorous international expansion roadmap and the grounded entry plan for the initial market, the client went on to demonstrate its growth potential with rapid store rollouts. The international growth story underpinned a successful sale of the business.
Our client had driven a strong and unique proposition through extraordinary growth in the UK, and was looking to the next horizon: international expansion. The exec team and private equity backers had a firm belief their offer could be successful in multiple European countries.
To take it from belief to reality they needed a robust expansion plan, rooted in market-by-market assessments. The plan had to to be rigorously grounded and thoroughly credible to a future buyer.
Together we set out to develop a 5-10 year roadmap for international growth based in each market’s customer needs, competition, proposition feasibility and its economics at store and group level. Leveraging the deep international retail experience of our team, we made a rapid assessment of 35 markets, then zoomed in on 8 to examine more deeply. This included range and price positioning, fit with the core proposition and distribution and property issues. A clear priority first market emerged, for which we conducted detailed planning including site identification, store economics and labour law reviews.
The client rapidly rolled out stores in the priority market with a proposition that was both locally distinctive and close to their original UK offer.
And when the company was later sold to a strategic buyer, the proven international expansion and potential for more were a key part of the growth story and valuation. It has since expanded into a further five markets, and international continues to be a core growth driver.