×
1 676
Fashion Jobs
TJX CANADA
Loss Prevention Store Investigator -Scarborough - York - Richmond Hill
CDI · Mississauga
TJX COMPANIES
Senior IT Security Vulnerability Analyst
CDI · Mississauga
NORDSTROM
Asset Protection - Agent - One Bloor Rack
CDI · Toronto
TJX CANADA
District Manager, Gta
CDI · Mississauga
TJX CANADA
Loss Prevention, Store Investigator - Gta
CDI · Mississauga
TJX CANADA
Loss Prevention Regional Orc Investigator - Calgary
CDI · Calgary
L'OREAL GROUP
Project Coordinator - Merchandising And Education
CDI · Montréal
ESTÉE LAUDER
Associate Consultant - Clinique - Halifax, ns
CDI · Halifax Regional Municipality
TJX CANADA
Summer Term Finance Analyst cO-Op
CDI · Mississauga
ESTÉE LAUDER
Consultant - Clinique - 28 Hrs - Hudson's Bay Market Mall - Calgary, ab
CDI · Calgary
ESTÉE LAUDER
Consultant - Clinique - 28 Hrs - Hudson's Bay Market Mall - Calgary, ab
CDI · Calgary
ADIDAS
Director of Sales - Adidas Golf
CDI · Vaughan
TJX CANADA
Distribution Services Purchasing Specialist
CDI · Mississauga
TJX CANADA
Loss Prevention Store Investigator - Vancouver
CDI · Vancouver
TJX CANADA
Buyer ii
CDI · Mississauga
TJX CANADA
Loss Prevention Systems Remote Investigator
CDI · Mississauga
L'OREAL GROUP
Key Account Manager - Vancouver
CDI · Vancouver
ESTÉE LAUDER
Manager, Finance & Business Management
CDI · Toronto
ZARA
Operations Manager, Zara Halifax
CDI ·
TJX CANADA
Loss Prevention Customer Service Agent -Gta
CDI · Mississauga
ESTÉE LAUDER
Manager, Marketing - jo Malone London
CDI · Toronto
MASSIMO DUTTI
Assistant Gérant, Massimo Dutti Carrefour Laval
CDI · LAVAL
Published
Oct 17, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

WH Smith to buy US-based Marshall Retail for $400m

Published
Oct 17, 2019

UK high street and travel retail newsagent WH Smith delivered a surprise on Thursday with news that it’s buying US-based travel retail specialist Marshall Retail Group. The two have signed an agreement for the British firm to acquire the fast-growing American business for $400 million (around £312 million).


Marshall Retail Group



The company said it’s a “compelling opportunity to accelerate the growth of [its] International Travel business in the $3.2 billion US airport travel retail market.”

While Marshall sells many of the same goods as WH Smith, such as magazines, books and confectionery, its big focus is retail as an experience and it also offers fashion, beauty and other lifestyle products. Brands it sells include Joseph Ribkoff, Bella Scarpa, Baggallini, Tumi and Kiehl’s in a store estate that’s spread across US airports, resorts and other tourist retail channels.

In August, it opened The Well, its newest concept featuring locally-sourced artisanal gifts in a “hydration-focused environment”, located in Terminal A at Sacramento International Airport (SMF). The 3,500 sq ft space “ties environmentally friendly products and distinctive gifts from Northern California to travellers from around the world”.

WH Smith said it has “strong and highly visible near-term growth prospects” and that “the combination with WH Smith's existing operations, including [digital accessories retailer] InMotion, will strengthen the group's International Travel offering.” In fact, the transaction will broadly double the size of that part of WH Smith’s offer.

Carl Cowling, who joins WH Smith as CEO at the start of next month, said the proposed acquisition adds a “highly successful US travel retailer with a fast-growing airport business” to the firm’s mix. Combined with InMotion, which it acquired last year, it “will significantly enhance our scale and growth opportunities in the US,” he added. 

MRG’s CEO Michael C Wilkins and existing team will be joining the combed group and will stay in charge as the US operation.

Wilkins added that the deal "is an incredible milestone for our business” and that it “unlocks’ huge potential.

WH Smith has over 1,600 stores, mainly in Britain, while MRG currently operates 170 stores in North America, with 59 of these inside airports. A further 33 new airport stores are expected to open by the end of 2024 following a series of successful tenders, and it’s expected to add approximately 43,000 sq ft of airport retail selling space, representing an increase of more than 75% from its current airport footprint.

WH Smith said that following the transaction, the group will be able to access all relevant categories in the $3.2 billion US airport travel retail market, ranging from news & gift products to speciality products (such as digital accessories, souvenirs, gifts, apparel, and licensed brand retailing). “This enhanced offering is expected to present substantial future opportunities for WH Smith to compete in increasingly sophisticated tenders,” it said.

Copyright © 2022 FashionNetwork.com All rights reserved.