Kingfisher plc

Kingfisher plc
Public limited company
Traded as LSE: KGF
OTCQX: KGFHY
Industry Retail
Founded 1982
Headquarters Paddington, City of Westminster, London, United Kingdom
Key people
 Daniel Bernard
(Chairman)[1]
Véronique Laury
(Group Chief Executive)[1]
Products Home improvement products such as home appliances, tools, home furnishings, hardware, and garden supplies & plants.
Revenue £11,125 million (2014)[2]
£746 million (2014)[2]
£710 million (2014)[2]
Number of employees
 Approximately 79,000 (2015)[3]
Website www.kingfisher.com
Company Headquarters, 3 Sheldon Square, London

Kingfisher plc is a British multinational retailing company headquartered in London.[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 1,176 stores, in eleven countries across Asia and Europe, and its brands include B&Q, Castorama, Brico Dépôt and Screwfix.[5]

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 2002) by Sir Geoffrey Mulcahy, who became renowned for his taciturn public persona, lengthy decision-making and love of sailing. 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 of European companies such as Castorama,[8] BUT S.A.[9] and Wegert[10] enabled the Company to grow to become the largest general retail business in the United Kingdom.

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 2002–2008.[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 heads 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]

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.[19]

The companies now part of the Kingfisher group are:

References

  1. ↑ 1.0 1.1 "Management & committees". Kingfisher plc. 3 June 2009. Retrieved 10 September 2014.
  2. ↑ 2.0 2.1 2.2 "Kingfisher plc Preliminary results for the year ended 1 February 2014" (PDF). Retrieved 17 March 2015.
  3. ↑ "About us". Kingfisher.co.uk. Retrieved 17 March 2015.
  4. ↑ "Kingfisher Group." Kingfisher plc. Retrieved 2 February 2011. "Kingfisher UK 3 Sheldon Square Paddington London W2 6PX"
  5. ↑ "About us". Kingfisher.com. 21 November 2012. Retrieved 21 November 2012.
  6. ↑ 6.0 6.1 6.2 "Kingfisher History". Kingfisher.com. 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. 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. 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
  15. ↑ 15.0 15.1 "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. ↑ "Company overview". Kingfisher. 27 October 2012. Retrieved 29 November 2012.

External links