Marks Electrical
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| ISIN | 🆔 |
|---|---|
| Industry | Retail |
| Founded 📆 | 1987 |
| Founder 👔 | |
| Headquarters 🏙️ | Leicester, England |
Area served 🗺️ | United Kingdom |
Key people | Mark Smithson (Founder & CEO) |
| Products 📟 | |
| Members | |
Number of employees | |
| Parent | Marks Electrical Group plc |
| 🌐 Website | https://markselectrical.co.uk |
| 📇 Address | |
| 📞 telephone | |
Marks Electrical is a family-run retailer of electric appliances and white goods in the United Kingdom that has been in business for over 36 years. The company was founded by Mark Smithson on February 2nd, 1987.[1]
The company supplies a range of electric appliances and consumer electronics, sold through their e-commerce website, as well as physical showroom based in Leicester.[2]
History[edit]
1987 - 2000[edit]
- Founded by Mark Smithson in 1987 reselling used products in rented premises[3]
- Grew locally and purchased a further four wholly-owned stores to make a large superstore.
- Positioned as a high-end MDA market leader in the Midlands
2001 - 2005[edit]
- Established as an online business
- First website launched in 2001[4]
- Bought its first two warehouses
2006 - 2010[edit]
- First e-commerce website launched in 2008[5]
- Reached sales of circa 80% online despite a challenging trading environment caused by the global recession
2011 - 2016[edit]
- Added two new warehouses for £3.6m with circa 60,000 sq. ft capacity
2017 - 2020[edit]
- Bought current warehouse for £5.4m with 200,000 sq. ft capacity
2021[edit]
- First TV ad launched[6]
- Additional £7m invested in stock[7]
- 78% revenue growth[8] with controlled overheads and EBITDA margin more than 13%
- IPO on the London Stock Exchange[9]
2022[edit]
- Continued revenue growth at 44%[10]
- Operating leverage achieved over fixed cost based
- 9.0% EBITDA margin
- Launched a rebrand for their fleet
2023 - 2024[edit]
Operations[edit]
The company flagship site spans over 12,000 sq ft including warehouses and a showroom on Boston Road in Leicester.
Awards[edit]
- 2013 - Domestic & General | Independent Electrical Retailer of the Year - Runner Up
- 2014 - Domestic & General | Internet Retailer of the Year
- 2015 - ERT | Independent Electrical Retailer of the Year - Finalist
- 2015 - ERT | Independent Electrical Retailer of the Year
- 2016 - ERT | Consumer Electronics Showroom - Finalist
- 2016 - ERT | Independent Retailer Website - Finalist
- 2016 - IER | Best Website - Highly Commended
- 2017 - ERT | Digital Marketing of the Year
- 2017 - ERT | Independent Electrical Retailer of the Year
- 2018 - IER | Best Customer Service - Highly Commended
- 2018 - IER | Best Website of the Year
- 2018 - Leicester Mercury | Retail Business of the Year - Finalist
- 2019 - IER | Best Customer Service of the Year[13]
- 2020 - ERT | Best Independent Domestic Appliances Retailer[14]
- 2020 - FEEFO | 6 Years Gold Service[15]
- 2020 - IER | Best Independent Retailer Website of the Year[16]
- 2021 - IER | Best Customer Service - Highly Commended
- 2021 - IER | Best Independent Retailer Website
- 2022 - IER | Best Large Independent Electrical Retailer - Domestic Appliances[17]
References[edit]
- https://markselectrical.co.uk/about-us/awards
- https://www.lsegissuerservices.com/spark/m2yKGuNwWDMPjhcKD4GCB4/case-study-marks-electrical-from-one-man-band-to-plc
- https://www.business-live.co.uk/retail-consumer/marks-electricals-sales-up-despite-24727722
- https://www.retailgazette.co.uk/blog/2022/08/marks-electrical-posts-double-digit-revenue-growth-despite-challenging-market-backdrop/
- https://ukinvestormagazine.co.uk/marks-electricals-strong-start-to-the-second-half/
- https://www.eastmidlandsbusinesslink.co.uk/mag/finance/strong-trading-momentum-continues-at-leicester-online-electrical-retailer/
- https://www.retail-week.com/people/marks-electrical-boss-mark-smithson-on-keeping-its-edge-in-a-difficult-market/7043527.article?authent=1
- https://group.markselectrical.co.uk/journey
- https://www.equitydevelopment.co.uk/research/marks-electrial-investor-presentation-interimresults-nov2023
External links[edit]
- https://markselectrical.co.uk (United Kingdom)
- https://group.markselectrical.co.uk
This article "Marks Electrical" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Marks Electrical. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
- ↑ https://doc.morningstar.com/850bdd859cd7d978fe69c0b64b3ee631.msdoc/?clientid=fiduk&key=06f7d682c5869576
- ↑ https://markselectrical.co.uk/leicester-showroom
- ↑ "Stick your head in the oven and buy Marks Electrical Group". The Times.
- ↑ "Home". Archived from the original on 2001-02-02.
- ↑ "Marks Electrical Ltd".
- ↑ "Marks Electrical June 2021 TV Ad". YouTube. 29 June 2021.
- ↑ "Issuer Services | London Stock Exchange".
- ↑ "Strategy spotlight: Five ways Marks Electrical is disrupting its competitors".
- ↑ "London Stock Exchange | London Stock Exchange".
- ↑ "Strategy spotlight: Five ways Marks Electrical is disrupting its competitors".
- ↑ "Strategy spotlight: Five ways Marks Electrical is disrupting its competitors".
- ↑ "Marks Electrical ups market share but gross margins rise disappointing". 10 January 2024.
- ↑ https://ertonline.co.uk/news/ert-awards-2019-winners-revealed/
- ↑ https://ertonline.co.uk/news/ert-awards-2020-winners-revealed/
- ↑ https://www.feefo.com/en-GB/reviews/marks-electrical
- ↑ "Winners 2021 | IER Awards". 7 October 2021.
- ↑ "Winners 2022 | IER Awards". 13 June 2022.
