British kitchenware retailer ProCook has unveiled plans to launch its own range of coffee machines in early 2025, marking a significant expansion of its electrical appliances portfolio. The company, which operates 64 brick-and-mortar shops alongside its online presence, is responding to consistent customer demand.
Chief Financial Officer Dan Walden revealed that coffee machines have historically been the most searched term on ProCook’s website, highlighting a clear market opportunity. The strategic move aims to broaden the company’s product range while attracting new customers to the brand.
The expansion strategy extends beyond product development, with ProCook opening four new shops in the six months leading to October 13, and plans for six additional locations before the financial year ends. The retailer has set ambitious targets, aiming to operate 100 stores and achieve £100 million in annual revenues.
Despite reporting first-half revenues of £28.3 million, representing a 7.5 per cent increase year-on-year, the company faced challenges with widening losses. The underlying loss before tax reached £2.8 million in the 28 weeks to October 13, compared to £1.7 million in the same period of 2023.
The company, founded by Daniel O’Neill as a mail-order business from a Gloucestershire cottage 27 years ago, has undergone significant transformation since its London Stock Exchange listing in November 2021. Trading at 33¼p per share, the stock has experienced considerable decline from its initial public offering price of 145p.
ProCook’s Chief Executive Lee Tappenden also announced plans to strengthen the company’s bakeware division, capitalising on the continued popularity of home baking inspired by shows like the Great British Bake Off. The retailer reported a modest 0.9 per cent increase in like-for-like revenues during the first eight weeks of the golden quarter to December 8.
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