Phil Maudsley, CEO of Findel, and Stuart Caldwell, Acting CFO discuss where the company stands on its strategic journey to become an online-driven value retailer through its Express Gifts division and the Studio brand. Significant progress has recently been logged, with the online proportion of orders jumping to 63%, and recent younger customers placing up to 90% of their first orders online. Phil also discusses the increasing use of Far East based production, not only for Express but in the Education division, where it is part of a strategy to improve competitiveness. Stuart also explains the use of debt as part of the company’s consumer credit model.
Findel comprises market-leading businesses in the UK online value retailing and education supplies markets. The company’s objective is to develop sustainable growth in a marketplace for value-conscious customers who are rapidly moving their purchases online.