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Halfords
From Wikipedia, the free encyclopedia
| Halfords | |
|---|---|
 |
|
| Type | Public |
| Founded | 1892 |
| Founder | Frederick Rushbrooke |
| Headquarters | Redditch, England, UK |
| Area served | UK, Ireland, Czech Republic |
| Key people | Ian McLeod (CEO) Richard Pym (Chairman of the board) |
| Industry | Retail |
| Products | Ripspeed, Bicycles and accessories, SatNav, Car audio, Tools, Child seats etc. |
| Services | Bicycle repair, Vehicle part fitting. |
| Revenue | £744 million (Year to Mar 2007)[1] |
| Operating income |  £93.5 million (Year to Mar 2007)[1] |
| Employees | 10,325 (Year to March 2007)[1] |
| Slogan | We go the extra mile |
| Website | http://www.halfords.com |
Halfords Group plc (LSE: HFD) is a leading retailer of car parts, car enhancement, cycles and travel solutions in the United Kingdom and Republic of Ireland. It is part of the FTSE 250 Index of companies listed by the London Stock Exchange.
Contents |
Halfords traces its origins to a store founded in Birmingham in 1892 by Frederick Rushbrooke as a wholesale ironmongery. The name originates from a store on Halford Street in Leicester, which was opened circa 1902 by Rushbrooke, selling cycling goods. [2] In 1906 the 'Halford Cycle Company' was formed.
It opened its 200th store in 1931 and purchased the Birmingham Bicycle Company in 1945. [2] In 1968 it opened its 300th store. [2]
The company became a part of the Burmah Group in 1969, after a takeover battle that saw Smiths Industries also bidding. Although Frederick Rushbrooke had died in 1953, his son, M. M. Rushbrooke remained chief executive into the 1980s. [2]
After this acquisition the company moved to its purpose-built head office and warehouse located in Redditch, Worcestershire. It is still located there at present 2007.
The previous red, white and blue corporate identity of Halfords was introduced in the 1980s. This consisted of the Halfords name in white upon a blue background, with a white and red flat head screw design on the 'o' of the name.
In 1984, the business was acquired by Ward White Group but subsequently acquired by the Boots Group in 1991 [2] and in 2002, the company was taken over by CVC Capital Partners from the Boots Group and in 2004 was floated on the London Stock Exchange. On 11 July, 2005 Halfords would enter into a Collaboration Agreement with Autobacs Seven Co.,[3] a Japan based car accessory retailer with chains of stores all over the world and who is best known in other countries that do not have an Autobacs store for being the title sponsorship of Super GT and D1 Grand Prix. On 13th December, Autobacs acquired 5% (11,400,000 shares) of the company at approximately ¥7.5 billion. [4]
Under the control of Chief Executive Officer, Ian McLeod, formerly Chief Executive of Celtic F.C., Halfords now boasts 420 stores across the UK. The chain is currently benefiting from the interest in car modifying culture, having acquired the Ripspeed brand in 1999. To compete in the ever increasingly competitive performance market, they are now starting to rebrand the Ripspeed franchise as RipspeedX with a new corporate identity.
Halfords currently opprates stores under a variety of formats, each in different sizes selling a different range of products.
- Halfords Superstore = Large out of town stores, often located on retail parks which sell a large range of their products. They are increasingly built in arcade style formats with a mezzanine level and sub shops for its sub-brands like Bikehut and Ripspeed. They sell other ranges for example camping and outdoor leisure
- Halfords Metro = These are larger town centre stores which sell a smaller range than their larger out of town stores but a larger range than the high street stores. They focus on cycles and cycling accessories as well as motoring products.
- Halfords High Street = Much smaller stores selling only a very small range. They mainly focus on their core products.
- Bikehut = Stores named after their sub-brand, Bikehut. They sell cycles and cycle accessory products and are located in town centres. They are new for 2007 and the first one has been built in Brighton. If they prove to be a success, the company plans to roll them out throughout the UK.[citation needed]
Halfords currently operates stores in the UK and Ireland, with future plans to open stores in the Czech Republic. It will be piloted by opening three stores to begin with, however if these are a success, there are plans to open up to 150 more.[citation needed] The Czech Republic was chosen after research suggested the average age of cars in the Czech Republic is older than in most other European countries.[citation needed]
- ^ a b c Annual Report 2007. Halfords Group PLC. Retrieved on 2007-11-13.
- ^ a b c d e And it's all thanks to a passion for a penny-farthing bicycle. Times Online (2005-05-30). Retrieved on 2007-06-05.
- ^ Announcement of Collaboration Agreement with Halfords Group plc. Autobacs Seven Co.. Retrieved on 2007-06-05.
- ^ Announcement of Acqusition of Stocks of Halfords Group plc. Autobacs Seven Co.. Retrieved on 2007-06-05.
