With 184 stores, Scapino is the largest shoe discounter in the Netherlands, offering a product range consisting of shoes for the whole family in addition to clothing (25 percent) and bags and accessories (some 10 percent). The stores have average floor space of 800 m² and are situated at A2 and B1 locations in town centres. In Belgium, Scapino operates 25 stores on the outskirts of towns, while 7 outlet stores are located in Germany.
With approximately 2,950 staff, Scapino is expected to realize retail sales of some €220 million for the 2005 financial year (ending on 31 January 2006). It has a track record of profitability for many years.
The acquisition of Scapino fully matches Macintosh Retail Group's strategy to achieve growth at existing retail chains and acquire substantial, long-term profitable companies in the shoe and home decoration sectors in particular. Scapino's discount stores are complementary to the Dolcis, Manfield, Invito and PRO sport shoe formulas of Macintosh Retail Group.
These retail chains operate in the mid-range and higher segments of the shoe market and achieve retail sales of some € 165 million from 221 stores at A1 locations.
Together, the five retail chains will form the largest shoe retailer in the Netherlands, with a market share of some 13%. It is expected that, in due course, Scapino will benefit from the direct procurement facilities of Macintosh Retail Group in the Far East.
Scapino has ample potential for growth in the Netherlands and Belgium and expects to open some 25 stores in total in the next 3 years.
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