Pets at Home, touted as the United Kingdom’s pet supply store online, announced their Chief Executive, Matt Davies, will be stepping down from the position held for eight years. A new Chief Executive has yet to be named.
Pets at Home is considered a pioneer in the superstore for pets concept with its first store opening in 1991. It is the UK’s only nationally recognized pet specialty market. With over 300 stores across the UK, in 2007 Retail Week named Pets at Home the Specialty Retailer of the Year. In 2010, KKR acquired Pets at Home from Bridgeport, which had owned the retailer since 2004. Due to the private equity ownership, Pets at Home has added 115 stores in the past five years. According to UK’s Retail Week, the company is aiming to have 400 stores total.
Apart from selling product, Pets at Home has also branched out into veterinary services in 90 stores and runs a joint venture with Companion Care as well as pet grooming. The company has begun lowering prices and running promotions to stimulate growth. Their grow did slow to 1.8 percent in 2011 from 8.8 percent the previous year. When a new Chief is named, the priority is reportedly to be on expansion and market building.
The chain did have operations in Australia but sold them in 201. With a new Chief to be named, growth opportunities to make Pets at Home an international contender are expected, according to Retail Week. In addition, Pets at Home plans to open smaller format stores in areas that a population of over 15,000 people.
To learn more about Pets at Home, visit www.petsathome.com.