UK: Accessories retailer plans big expansion
Motor World Limited, the UK's biggest independent car accessories retailer, is planning to open 100 new stores creating around 500 new jobs.
The chain, which currently has 240 stores in Britain, turns over GBP57m and employs more than 1,000 people - says that it is seeing clear evidence of a strong opportunity for growth.
Motor World's administrative centre is in Stratford-upon-Avon and its UK distribution centre is in Bradford, West Yorkshire.
Managing director David Hudson said: "We recently called together key suppliers for our 'five years on' supplier conference, to share our plans with them for the next five years.
"The potential is clear, the number of cars on the roads in the UK is projected to grow by 2.5% annually through to 2011.
"Combine that with the fact that the average mileage travelled by car owners is increasing, giving rise to a desire for more comfort and in-car entertainment while travelling - and we can see the foundation of a developing market.
"There is also a trend towards a higher proportion of cars being privately owned, thereby increasing discretionary spending by drivers on their cars.
"More car owners want to enhance their pride and joy - appearance and technical gadgetry are becoming more important to them.
"All this adds up to a growing demand, but we remain cautious. Our plans are based on achievable growth, which will be delivered by us continuing to pursue our strategy of innovative marketing, combined with strong financial discipline.
"We will look to grow organically as well as through new store openings, in particular targeting expansion in east Anglia, the south and south east of England."