retailer

Malaysia’s largest home-improvement retailer seeks $361m in IPO

KUALA LUMPUR — Home-improvement store operator Mr DIY Group of Malaysia opened its initial public offering for bids, aiming to raise 1.5 billion ringgit ($360.6 million) in what would be the country’s largest stock market listing since 2017.

The company on Tuesday unveiled its prospectus, an important step to listing on the main board of Kuala Lumpur’s stock exchange, known as Bursa Malaysia. Mr DIY’s first two attempts at listing — late last year and the first half of 2020 — were shelved amid the coronavirus pandemic.

The offering would give the company a market capitalization of 10 billion ringgit post-IPO, CEO Adrian Ong said at an online news conference after the prospectus was released.

Mr DIY is targeting a retail price of 1.60 ringgit a share, with the institutional offering consisting of 779.95 million shares and 161.53 million shares allocated for the retail offering.

“We today have a 29% market share of the overall home-improvement retail market in Malaysia,” he said, adding that the company has been growing faster than the country’s annual industry average of 10.2%.

“About 300 million ringgit [of the IPO’s proceeds] would be mainly used to repay existing debts,” Ong added.

The offering would be the largest in Malaysia since chemicals producer Lotte Chemical Titan raised about 3.77 billion ringgit in July 2017.

Since Mr DIY opened its first location in 2005, the company has fast grown into Malaysia’s largest home-improvement retailer, with 674 stores across the country and four stores in Brunei. In addition to the Mr DIY core brand, the company also operates two other store chains: Mr Toy, which sells affordable toys, and Mr Dollar, which offers a fixed-price point model.

“We are adding stores at a very fast pace, which suggests that we have confidence in the business,” Ong said. The

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Inuvo’s IntentKey Uncovers Changing Home Renovation Audience Behaviors in Midst of COVID-19 for National Home Improvement Retailer Client

LITTLE ROCK, Ark., Sept. 28, 2020 (GLOBE NEWSWIRE) — Inuvo, Inc. (NYSE American: INUV), a leading provider of marketing technology, powered by artificial intelligence (AI) that serves brands and agencies, today announces how the IntentKey artificial intelligence (AI) technology has built strong brand awareness with new audiences for a national home improvement retailer client by uncovering changing audience behaviors in the midst of COVID-19.

The pandemic has created a boom in home remodeling, as more time at home has changed the way people need their homes to function. Houzz reported a 58% increase in professional referrals for projects year-over-year. In a Porch.com survey, more than 75% of consumers said they plan to take on a new project within the next 12 months. CNBC coverage also boasts record high equity is giving homeowners the financial flexibility and confidence to reinvest in their homes as real estate prices increase amid record low interest rates.

IntentKey’s national home improvement retailer client was opening a new store in the Northeast and was looking for digital solutions to build brand awareness with both consumers and contractors, while also driving traffic to the new store.

The IntentKey AI technology was able to identify audience insights unavailable through conventional marketing technologies. The IntentKey easily identified the expected audience interests in home improvement concepts, such as renovation, bathroom remodeling, Pergo flooring, vanities, affordable tile, travertine, and the like. However, the IntentKey was also able to expose an unknown trend wherein audiences were demonstrating an interest in product within a 60, 90 and even 120-mile radius that were out of stock locally. This audience intent was manifested because the artificial intelligence technology behind the IntentKey was able to associate the general home renovation concepts with these unexpected concepts like “out of stock” and “low inventory levels,” which in turn

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Retailer Opens New Store in the Capital

Home Improvement retailer Wickes has opened a brand new store in Cardiff. The national brand closed its Cardiff West shop as part of its estate transformation strategy; relocating the operation to Dragon Retail Park, Newport Road, (opposite Morrisons). The store is open Monday to Saturday 7am – 6pm and Sunday 10am – 4pm.

New store, new offering 

The 30,000 square foot unit supports Wickes’ distinctive service model and new store format, with clear areas that cater for DIYers, small trade and those consumers looking for support on larger transformational home improvement projects. The new Cardiff store also marks a milestone for the retailer, as 60% of its stores nationwide are now in this new customer friendly format.

The quick, simple and easy to shop layout features a wide range of products and includes a Dulux in-store mixing service and a new outdoor project centre. A 5,000 square foot purpose built Kitchen, Bathroom and Boutique Tile Showroom is situated on the mezzanine, and features the latest on-trend ranges, together with expert help from experienced Design Consultants, who can assist customers’ transformational projects either face-to-face or through virtual meetings.

A business first 

A first for the Wickes estate, Cardiff has a designated area for what the business names ‘Smart Fulfilment’. This 600 square foot area assists the digital shopping journey, with the storage of items picked by colleagues for home delivery, ready for collection by local carriers. This is part of the home improvement retailer’s store of the future concept to drive efficiency and better customer service across its store network.

Lee Grainger, Store Manager, Cardiff commented:

“We’re so excited for customers to see this brand new Wickes store, we’re able to offer many more products and services to local residents in this new space. The store has been designed to make

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