Kingfisher, the DIY retailer which owns B&Q, and Screwfix, is looking for local partners to take on franchises in order to expand its business, according to The Independent.
The paper’s business staff are reporting that the company, which has a presence in France, China and Poland, as well as in the UK, is looking at licensing its brands for use in new territories such as the Balkan and Baltic states
Here’s an excerpt from the paper’s report:
B&Q owner Kingfisher plans DIY franchise roll-out in quest for global growth
The development of a franchise model is one of a number of initiatives under discussion at the company, as management prepares to unveil a new long-term growth strategy next spring.
Under Ian Cheshire, the chief executive, it is halfway through a three-year efficiency drive which last month helped push interim pre-tax profits up 22 per cent, despite stagnant revenues.
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Expansion into new geographical markets is also likely to be a key pledge when the future strategy emerges alongside full-year results next March. Read the full story here.