Hutchison 3G UK says that it has aquired 95 retail outlets to expand its own brand high street retail operations. Under the agreement 3, which currently has over thirty "3Stores" in the UK, is acquiring 73 Link stores and 22 O2 stores. This acquisition continues 3's strategy to build a nationwide retail presence and will create a retail footprint of over 150 stand-alone stores and 133 Superdrug and Selfridges concessions by the end of 2006.
3 says that it expects over 90 of the new stores to be selling its products and services by the end of 2006. Stores will be re-branded, refurbished and converted to 3Stores.
All permanent employees at the 73 Link stores being acquired will transfer to 3 as part of the acquisition. As a result, more than 200 new jobs will be created within the 3 retail network. All O2 store staff will continue to work for O2.
Marc Allera, Sales Director of 3 UK, said "We're delighted to acquire this retail portfolio and we're confident we can turn these sites into 3Stores in a matter of weeks. This strengthens our direct sales channel, giving the 3 brand a major presence on high streets across the country and helping us to further develop our relationship with our existing customers. Also most of these stores will be open in time for the busy Christmas period."
Marc added: "This agreement ensures we have a balanced mix of distribution. With specialist independents and the major third-party retailers continuing to play a major role in how we attract customers, we expect our direct presence to become equally important to winning new business during 2007."
The terms of the agreement were not disclosed."
Posted to the site on 25th October 2006
Posted to: www.cellular-news.com/story/20016.php