Dealz announces €20 million investment fund for Ireland
31 August 2021 | 0
Dealz has confirmed it has an Irish investment fund of €20 million earmarked for store expansion in the Republic of Ireland over the next three years.
The group is actively exploring opportunities across Ireland, particularly within smaller, regional areas including Galway, Donegal, Mayo, Tipperary, Wicklow, Leitrim, Meath, Kildare, Kerry, Clare, Louth, Sligo, Limerick and Waterford, as well as suburbs of Dublin.
The Irish discount retailer said opening stores over the next three years in those locations could create 500-750 new roles.
From opening its first store in 2011, Dealz has built a network of 78 stores across Ireland offering customers a wide selection of over 1,000 well-known top brands and established own label products.
As the retailer enters its second decade in Ireland, the investment will support the country’s recovery from the pandemic.
Dealz has evolved significantly with a transformation programme that began before Covid-19 and includes investment in new stores, refurbishments, new ranges and distribution channels.
Customers in Ireland have benefitted from Dealz’ growth. According to the company, over half of Dealz’ Irish stores now have PEP&CO ‘shop-in-shops’ offering customers a full range of women’s, men’s and kids’ fashion. Prices at PEP&CO start at €1.50 with almost 60 per cent of items at €5.00 or less.
What’s more, more Irish stores are set to get a PEP&CO makeover. Over the coming weeks, Dealz stores in Dublin (Liffey Street), Cavan, Castleisland and Wexford, will have new or extended PEP&CO departments.
Alongside additional expansion of PEP&CO in Northern Ireland Poundland stores, over six in ten Irish stores now feature a significant clothing department.
Barry Williams, managing director at Poundland & Dealz said: “We know Irish customers love their local Dealz stores and that’s why we’re excited to bring our best offer to more communities across Ireland. And we think the value we bring customers has never been more important.
“Our investment fund will support that growth with new stores in key locations and the creation of good jobs where colleagues can build careers.”
Dealz property team is actively seeking key locations to expand its portfolio. In the last number of months alone, the retailer has hired over 120 staff here including in new or refurbished stores in Carrickmines, Ballymun and Mullingar.
Dealz is working with property agents Cushman & Wakefield and its local legal team at William Fry. Muireann Griffin, associate director, Cushman & Wakefield in Dublin commented, “We are pleased to represent Dealz in their continued expansion in Ireland. This significant investment is a positive news story for the retail sector on the back of what has been a turbulent time and shows Dealz sustained commitment and confidence in the sector.”
The opening of Dealz new 930 square metre Carrickmines store in April of this year was a major milestone, bringing Dealz to a new area and has launched strongly and built a loyal following. In Cavan, the customer demand for clothing has led to Dealz doubling the size of its PEP&CO department to better serve customers.
While the Dealz brand was born in Ireland, in part inspired by its success here, it now operates across Europe, currently trading from over 200 locations in the Republic of Ireland, Spain and Poland.
Dealz and Poundland are now part of Pepco Group, which has over 3,300 stores across Europe and recently (May 2021) floated on the Warsaw stock market and is valued in the region of €7 billion.