Mitre 10 Launches Aggressive Expansion Plan

3 December 2009

Mitre 10 Launches Aggressive Expansion Plan

Mitre 10, the largest and best known home improvement retailer in the country, has launched an aggressive expansion plan as the recession eases and consumer confidence returns.

Chief executive Craig Wilson made the announcement as he turned the first sod on the site of the retailer’s latest massive Mega store in Lunn Avenue, Mt Wellington, Auckland.

“There are clear signs the recession is abating and, while we have done well during the downturn as people got into their DIY projects, we now want to position Mitre 10 for strong growth in the future," he said.

“Since we introduced Mitre 10 Mega in 2004, it has enjoyed phenomenal success and we plan to open another 15 Mega stores in the next two years."

Wilson said 10 of those would open by Christmas 2010, including the 10,000 sq m Lunn Avenue store and others in Timaru, Masterton, Pukekohe, Paraparaumu and Warkworth.

“Ranging between 7,250 sq m and 12,500 sq m, these stores will create about 1,000 new jobs throughout the country and involve a total investment of $150 million.

Wilson said Lunn Avenue would stock 40,000 products, including full kitchen and bathroom displays, and also offer a café, garden centre, children's playground and building materials drive-through. It alone will create more than 120 new jobs.

“This store will be a drawcard for Auckland's Eastern suburbs community, attracting customers from St Heliers, Kohimarama, Mission Bay, Orakei, Remuera, Epsom and Mt Wellington.”

It will be Mitre 10’s 23rd Mega but that will quickly grow to almost 40 by the end of 2011, said Wilson.

The Lunn Avenue store will be owned and operated by Raymond and Dennis Yee, who have been part of the Mitre 10 group for 12 years. They currently own the Mitre 10 stores in Mt Wellington and Mt Roskill.

The Yees said they were looking forward to operating the flagship Mitre 10 Mega in Auckland and “providing the best range of products at the lowest possible prices for customers in Central and East Auckland – end of story".

Started in New Zealand in 1974, Mitre 10 is more than twice the size of its nearest competitor, with a total of 110 stores nationwide, 3,500 staff and sales close to $1 billion a year.

“Our network is 100% owned and operated by Kiwi families who are committed to their local communities and who reinvest all of their profits right here in New Zealand. Not many other major retailers can make that claim," said Wilson.

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