Kingfisher plc

Kingfisher plc
Public limited company
Traded as LSE: KGF
OTCQX: KGFHY
FTSE 100 Component
Industry Retail
Founded 1982 (1982)
Headquarters Paddington, City of Westminster, London, United Kingdom
Key people
 Andy Cosslett
(Chairman)
Veronique Laury
(Group Chief Executive)[1]
Products Home improvement products such as home appliances, tools, home furnishings, hardware, and garden supplies & plants
Revenue £11,225 million (2017)[2]
£750 million (2017)[2]
£610 million (2017)[2]
Number of employees
 Approximately 74,000 (2017)[3]
Subsidiaries B&Q
Brico Dépôt
Castorama
Screwfix
Website www.kingfisher.com
Company Headquarters, 3 Sheldon Square, London

Kingfisher plc is a British multinational retailing company headquartered in London, with regional offices located across the United Kingdom and Republic of Ireland in locations such as Cardiff, Edinburgh and Dublin.[4] It is the largest home improvement retailer in Europe, and the third largest in the world (behind The Home Depot and Lowe's).

It has over 1,300 stores, in ten countries across Europe, and its brands include B&Q, Castorama, Brico Dépôt and Screwfix.[5] Kingfisher is also the third largest commercial property developer in the United Kingdom, owning more than 1,200 buildings ranging from apartments to hotels.

Kingfisher is listed on the London Stock Exchange, and is a constituent of the FTSE 100 Index.

History

Kingfisher was founded in 1982, by the buyout of the British Woolworths chain by Paternoster Stores Ltd, which later changed its name to Woolworth Holdings plc.[6] The Company expanded through subsequent acquisitions of companies such as B&Q, Superdrug and Comet.[6] It was led from 1984 (until his retirement in November 2002) by Sir Geoffrey Mulcahy.

Largely through his influence, Kingfisher became the major sponsor of British sailor Ellen MacArthur.[7] It was renamed Kingfisher plc in 1989.[6] Further acquisitions included European companies such as Castorama,[8] BUT S.A.[9] and Wegert.[10] In July 1999, Kingfisher attempted a takeover of Asda, one of the United Kingdom's largest supermarket chains, only to be beaten by Wal-Mart.[11]

In August 2001, coupled with an acrimonious battle for control of Castorama,[12] the resultant share price pressure forced the sale and demerger of several parts of the company, including Woolworths (forming the Woolworths Group),[13] and the demerger of the electricals business to form Kesa Electricals in July 2003 – causing the company to refocus entirely around DIY.[14]

The company was led by Gerry Murphy, from 2002 to 2008.[15] In January 2008, Kingfisher appointed Ian Cheshire as group chief executive.[15] Cheshire was formerly B&Q's chief executive; his B&Q role was taken over in April 2009, by Euan Sutherland, who also headed up the United Kingdom Division of Kingfisher.[16]

In September 2014, it was announced that the head of Castorama Véronique Laury would replace Ian Cheshire as Kingfisher group CEO in February 2015. Laury has worked at Kingfisher for eleven years, including roles at B&Q.[17][18] In June 2017, Andy Cosslett succeeded Daniel Bernard as chairman.[19][20]

Operations

Kingfisher currently operates over 1,176 stores in eleven countries in Asia and Europe. Its main retail brands are B&Q, Castorama, Brico Dépôt and Screwfix.[21]

The companies now part of the Kingfisher group are:

  • B&Q; operations in the United Kingdom and Ireland
  • Brico Dépôt; in France, Spain, Portugal and Romania
  • Castorama; in France, Poland and Russia
  • Koçtaş; 50% joint venture in Turkey
  • Screwfix; has 600 branches in the United Kingdom, and in September 2014, opened four stores in Germany

Former operations

References

  1. ↑ "Management & committees". Kingfisher plc. 3 June 2009. Retrieved 10 September 2014.
  2. 1 2 3 "Annual Report 2017" (PDF). Retrieved 10 March 2018.
  3. ↑ "About us". Kingfisher.co.uk. Retrieved 8 April 2017.
  4. ↑ "Kingfisher Group." Kingfisher plc. Retrieved 2 February 2011. "Kingfisher UK 3 Sheldon Square Paddington London W2 6PX"
  5. ↑ "About us". Kingfisher.com. 19 September 2018. Retrieved 19 September 2018.
  6. 1 2 3 "Kingfisher History". Kingfisher.com. Archived from the original on 6 March 2011. Retrieved 18 April 2011.
  7. ↑ Offshore Challenges Media/ISAF Secretariat (3 January 2002). "Kingfisher continues sponsorship". Sailing.org. Retrieved 18 April 2011.
  8. ↑ "French turn eyes to International Arena". Findarticles.com. Archived from the original on 10 July 2012. Retrieved 18 April 2011.
  9. ↑ "Kingfisher takes stake in French retailer". New York Times. 24 June 1998. Retrieved 18 April 2011.
  10. ↑ Kingfisher builds position in Germany
  11. ↑ "Wal-Mart buys Asda in United Kingdom retail shock". Findarticles.com. Archived from the original on 8 July 2012. Retrieved 18 April 2011.
  12. ↑ Osborne, Alistair (16 May 2002). "Kingfisher swoops for Castorama". The Daily Telegraph. UK. Retrieved 18 April 2011.
  13. ↑ "Personal finance - How to grow your wealth and spend less money - Telegraph". Telegraph.co.uk. Retrieved 16 March 2015.
  14. ↑ Kesa Chief's pay will double after split Archived 12 June 2011 at the Wayback Machine.
  15. 1 2 "The Retail Bulletin". The Retail Bulletin. Retrieved 18 April 2011.
  16. ↑ "New man in B&Q hot seat". Dailyecho.co.uk. 4 April 2008. Retrieved 18 April 2011.
  17. ↑ Farrell, Sean (10 September 2014). "Kingfisher names French DIY boss Véronique Laury as new chief executive". The Guardian. Retrieved 10 September 2014.
  18. ↑ Felsted, Andrea (10 September 2014). "Véronique Laury unexpected choice for Kingfisher crown". Financial Times. Retrieved 10 September 2014.
  19. ↑ "Kingfisher chairman Daniel Bernard to step down and be succeeded by Andy Cosslett". The Retail Bulletin. 22 March 2017. Retrieved 16 June 2017.
  20. ↑ The Sunday Times (26 March 2017). "Cosslett to scrum down at Kingfisher | Business | The Times & The Sunday Times". Thetimes.co.uk. Retrieved 16 June 2017.
  21. ↑ "Company overview". Kingfisher. 27 October 2012. Retrieved 29 November 2012.
  22. 1 2 "Kingfisher announces Woolworths and Superdrug demerger". The Telegraph. 5 June 2001. Retrieved 10 March 2016.
  23. ↑ "Comet stores open for final day". BBC. 18 December 2012. Retrieved 10 March 2018.
  24. ↑ "Woolies sells off ailing MVC". This Is Money. 2005-07-31. Retrieved 2009-02-12.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.