Latest news with #homewares
Daily Mail
28-05-2025
- Business
- Daily Mail
Taking on Kmart: Aussies flood The Reject Shop to snap up stunning new homewares range that quietly dropped
The Reject Shop has done it again with a playful new homewares range that has thousands of Aussies excited. Officially in stores on May 28, the new fairytale-inspired range draws upon common phrases and themes from Alice in Wonderland and is perfect for those who love a pop of colour at home. Very Mad Hatter-esque, the 'frabjous' collection features mushroom bowls and cake plates ($5), teacups and saucers ($8), glass magnet sets ($5) and an adorable striped toilet brush ($12.50) guaranteed to brighten up any dreary bathroom. Other highlights include scalloped plates reminiscent of those sold by No.22 and In The Roundhouse. Each one is stamped with a kooky phrase like 'We're All Mad Here', 'Eat Me' and 'Oh My Ears And Whiskers How Late It's Getting'. The soap dispensers, mushroom-themed lazy Susan, and 'Hatter' tumblers are also expected to be sell-out hits. Even though the range officially dropped on Wednesday, shoppers have been spotting the pieces on shelves for the past week and eagerly shared snaps of their finds on TikTok. 'Every week I'm absolutely stunned by what I'm discovering at the Reject Shop,' shopper Clare Jane raved. 'They understood the assignment this week. Get the girls together for a high tea mad hatters edition this Sunday.' And hundreds of others agreed. 'Yes I love The Reject Shop I got [stuff] there for my pink and white kitchen theme... I'm going to need the pink mushroom,' one shopper replied. It's the latest in a string of hits for the store, which is increasingly taking on the likes of Kmart and Target with its affordable designer-inspired collections that are designed to mix and match. Aussie bargain hunters were thrilled earlier this month with news of The Reject shop's latest multi-million-dollar takeover deal, which has promised an expansion of 700 new stores nationwide. Canadian retail giant Dollarama acquired the store for an eyewatering $259million - a deal that marked a milestone moment for the brand. Speaking exclusively to FEMAIL, a Reject Shop spokesperson teased that they couldn't give away too much when it came to their future plans, but did hint they may explore more luxury-inspired offerings. 'We have some very exciting homewares collections coming up throughout the year and cannot wait to share them with our customers,' they said. 'We love home decor that gives a colourful personality to spaces, giving our customers the chance to make exciting choices with their interior design while remaining on a budget.' The Reject Shop CEO Clinton Cahn announced that he was 'excited about the opportunities that this transaction presents', as many Australia consumers are in such a cost-of-living crunch. This deal will also see a huge rise in availability for Aussies to get their hands on products even quicker, with more physical stores to cater to the rising demand. However, not all fans are convinced this is a good thing, worrying that the prices, quality and luxury 'dupes' might diminish now that Dollarama has taken over. 'Gosh... they better keep there low prices or I will never shop there again,' one said on TikTok. 'If they change the type of products that the reject shop sells I'm going to be so mad because the strawberry collection of plates and bowls are everything to me,' commented another. Even though the range officially dropped on Wednesday, shoppers have been spotting the pieces on shelves for the past week and eagerly shared snaps of their finds on TikTok According to UNSW consumer behaviour researcher Professor Nitika Garg 'The Reject Shop's buy-out signals a strong vote of confidence in the Australian retail sector'. Speaking to FEMAIL, Professor Garg said 'healthy competition between budget retailers is ultimately a win for Aussie shoppers'. 'It pushes companies to improve quality, keep prices low, and deliver better value,' she said. A deal like this will also be a huge boost to the local economy. 'This influx of capital could drive innovation, expand local operations, and create more jobs - all of which are positives for the broader Australian economy,' Professor Garg said.
The Independent
14-05-2025
- Business
- The Independent
Forgotten high street shop to make comeback after decades away
Furniture outlet MFI is set to make a return to the high street almost 20 years after it collapsed. Online bathrooms retailer Victorian Plumbing, owners of the company, has announced plans to reinvent the former homeware giant in the first half of next year. Mark Radcliffe, Founder and Chief Executive Officer of Victorian Plumbing, said 'I am very excited about the upcoming re-invention of MFI, allowing us to tap in to more of the £20bn UK Homewares market. 'Our dedicated and ambitious team, decades of e-commerce knowledge and best-in-class proprietary software, together with the recognisable MFI brand, will help to deliver our strategic ambition over the medium-term,' he said, according to Insight DIY. "Victorian Plumbing has always taken an opportunistic and entrepreneurial approach; alongside this we have built a business that invests in the future, has solid financial foundations and is committed to delivering long-term value to all shareholders, as epitomised by our enhanced capital allocation policy and increased interim dividend." This comes as the group revealed an increase in interim sales over the past six months, as they had 'invested significantly in preparing the business for future growth last year.' 'I am pleased with the Group's strategic progress in the first half. We are fully operational in our new purpose built warehouse and have continued to improve our customer proposition, while expanding product range into other rooms within the home and taking significant market share gains in a subdued trading backdrop.' MFI, which stands for Mullard Furniture Industries, closed all 111 stores in 2008, totalling a loss of 1,200 jobs, after over 40 years of business. Originally founded by Donald Searle and Noel Lister in 1964, MFI sold government surplus stock after the Second World War. It started as a mail order company before opening stores to sell flat-pack kitchens and bathrooms. Following the homeware brand's closure, the brand was purchased by Victoria Plumb in 2011, which rebranded to in 2015. The bathroom retailer was bought by its rival Victorian Plumbing in 2024 in a deal worth £22.5 million, just six months after Victoria Plum went into administration and was bought in a so-called pre-pack deal with AHK Designs.
The Sun
14-05-2025
- Business
- The Sun
Popular British retailer RETURNING after 18 years after collapsing and shutting 111 stores
A MAJOR British retailer is set to return after 18 years following its collapse which saw 111 stores close for good. MFI, known for selling kitchenware, bedroom and flat-pack furniture, will re-launch online between April and September next year. 1 It comes after the household name fell into administration in 2008 which saw hundreds of workers lose their jobs and 111 stores shut. The MFI brand was obtained by Victorian Plumbing in May last year as part of its acquisition of Victoria Plum. In its most recent results published yesterday, it said it would look at re-launching the name as a standalone website from 2026, selling dining room, bedroom and homeware products. MFI will lean on Victorian Plumbing's existing infrastructure, including two warehouses based in Lancashire. It's not clear at this stage exactly when MFI will be re-launched by Victorian Plumbing. Mark Radcliffe, founder and chief executive officer, said: "I am very excited about the upcoming re-invention of MFI, allowing us to tap in to more of the £20bn UK Homewares market. "Our dedicated and ambitious team, decades of e-commerce knowledge and best-in-class proprietary software, together with the recognisable MFI brand, will help to deliver our strategic ambition over the medium-term." The announcement comes after Victorian Plumbing toasted 6% year-on-year growth between 2024 and 2025 with revenue totalling £152.7million. The retailer said it had seen revenues increase due to customers buying more of its own-brand items. It added forecasting how well sales for MFI would perform was "challenging" but that it would "react and adapt" after the brand's launch. Radcliffe added: "Having invested significantly in preparing the business for future growth last year, I am pleased with the group's strategic progress in the first half. "We are fully operational in our new purpose built warehouse and have continued to improve our customer proposition, while expanding product range into other rooms within the home and taking significant market share gains in a subdued trading backdrop. "Victorian Plumbing has always taken an opportunistic and entrepreneurial approach; alongside this we have built a business that invests in the future, has solid financial foundations and is committed to delivering long-term value to all shareholders, as epitomised by our enhanced capital allocation policy and increased interim dividend." BRANDS MAKING A COMEBACK A number of iconic and household brands have returned to the UK in recent years and to shopper fanfare. British shirt maker T.M Lewin shut all 66 of its stores back in 2020 as the coronavirus pandemic took a toll on profits. But it confirmed in April it was opening a new physical store in London after relaunching its website in 2022. Meanwhile, ASOS last month revealed plans to relaunch a Topshop website. The two names have joined a host of other brands that have announced they will make some form of return. Toys R Us, Cath Kidston and M&Co all said last year they would be making a comeback after previously falling into administration. Meanwhile, major brand Wilko is already back on the high street after closing 400 stores in 2023. Its new owners, CDS Superstores, have opened branches across the UK. RETAIL PAIN IN 2025 The British Retail Consortium has predicted that the Treasury's hike to employer NICs will cost the retail sector £2.3billion. Research by the British Chambers of Commerce shows that more than half of companies plan to raise prices by early April. A survey of more than 4,800 firms found that 55% expect prices to increase in the next three months, up from 39% in a similar poll conducted in the latter half of 2024. Three-quarters of companies cited the cost of employing people as their primary financial pressure. The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." Professor Bamfield has also warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020."
Daily Mail
14-05-2025
- Business
- Daily Mail
MFI returns: Defunct furniture retailer is relaunched after 2008 collapse
Defunct furniture brand MFI will return to the UK after almost 20 years, as owner Victorian Plumbing sets about a 're-invention' of the brand. MFI, which was once one of the largest suppliers of kitchens and bedroom furniture in the country, collapsed into administration in 2008 alongside rivals like Courts and Land of Leather as the global financial crisis hit household budgets. But the brand domain was quietly obtained by Victorian Plumbing in May last year as part of its acquisition of Victoria Plum. It will trade as a standalone online homewares business, targeting bedroom, living room, dining room, hallway and home accessories, Victorian Plumbing said. The group is targeting a launch date in the second half of next year. London-listed Victorian Plumbing told investors on Wednesday alongside its half-year results that MFI would be run by a 'dedicated and experienced management team', including buyers formerly employed by Mike Ashley's Frasers. MFI will use the existing infrastructure of the wider group, including two warehouses vacated by Victorian Plumbing in Skelmersdale, Lancashire. It marks Victorian Plumbing's entry into the UK homewares sector, which is worth an estimated £20billion. Victorian Plumbing, which said MFI's product range 'fits' with its existing customer base, plans to invest £3million in 'people and property' this year as part of the launch. Founder and chief executive Mark Radcliffe said: 'I am very excited about the upcoming re-invention of MFI, allowing us to tap in to more of the £20billion UK homewares market. 'Our dedicated and ambitious team, decades of e-commerce knowledge and best-in-class proprietary software, together with the recognisable MFI brand, will help to deliver our strategic ambition over the medium-term.' It came as Victorian Plumbing reported 6 per cent year-on-year revenue growth to £152.7million for the six months to 31 March, with adjusted earnings before nasties up 15 per cent to £15.2million. Profits were boosted by a 10 per cent jump in orders and more customers buying Victorian Plumbing's own-brand products. The group expects full-year profits of £31million to £32million, weighed down by £2million as a result of investment in MFI. It said: 'Forecasting MFI at this stage, without any history, is challenging. As an entrepreneurial business we will react and adapt over time.' Radcliffe added: 'Having invested significantly in preparing the business for future growth last year, I am pleased with the group's strategic progress in the first half. 'We are fully operational in our new purpose built warehouse and have continued to improve our customer proposition, while expanding product range into other rooms within the home and taking significant market share gains in a subdued trading backdrop. 'Victorian Plumbing has always taken an opportunistic and entrepreneurial approach; alongside this we have built a business that invests in the future, has solid financial foundations and is committed to delivering long-term value to all shareholders, as epitomised by our enhanced capital allocation policy and increased interim dividend.'
Bloomberg
08-05-2025
- Business
- Bloomberg
Next Raises Guidance Again as UK Customers Buck Economic Gloom
Next Plc raised its profit guidance for the second time this year as stronger-than-expected sales in the UK defied the weak consumer sentiment that's affecting rivals. The British fashion and homewares company now expects £1.08 billion ($1.4 billion) of pretax profit in the year ending January 2026, up from its previous forecast of £1.07 billion, according to a statement Thursday. Next also said it sees full-price sales this year rising 6%, up from its previous guidance of 5%.
