HMV to open on Grafton Street in Dublin
March 7th, 2014
HMV and Xtra-vision owner Hilco Capital today announced that it will open a new store on Dublin’s Grafton Street.
The new store will be located at the old A-wear premises. An opening date for the store will be announced in the near future.
35 new jobs will be created at the new store, which brings the total number of people employed by HMV and Xtra-vision in Ireland to over 1,000.
This announcement brings the total number of HMV stores in Ireland to seven, with stores already open at Henry Street, Dundrum Town Centre and Liffey Valley in Dublin; Crescent Shopping Centre in Limerick, at the Quays Shopping Centre in Newry and Donegal Arcade in Belfast. In addition, 37 dual branded Xtra-vision and HMV stores opened around the country in 2013 and early 2014, with a further 11 locations opening over the next month.
Larry Howard, CEO of Hilco Capital Ireland: “HMV returning to Grafton Street has been a priority for Hilco Capital, and we’re delighted to have secured this premises. We’re looking forward to bringing this iconic brand back to its spiritual home in Ireland.”
Re:Capital Australia acquires Hillier’s Chocolates
February 17th, 2014
Re:Capital, the Australian arm of Hilco Capital, today announced that it has acquired Ernest Hillier Pty Ltd (“Hillier’s Chocolates”), the private Melbourne-based chocolatier.
The transaction represents Re:Capital’s second investment in Australia. The sale also forms part of Hillier’s planned succession, as its former owners, the Piedimonte family, focus on other business interests.
Ernest Hillier was founded in 1914 and operates under the Hillier’s and Newman’s brands. The company’s products are sold in a variety of retail and wholesale locations across Australia.
Recognising the strong heritage of this iconic Australian brand, Re:Capital is committed to preserving the Hillier’s Chocolates name and corporate identity as well as its facilities. The business will continue to be run by the current Chief Executive Officer Mark Campbell.
Re:Capital will maintain Hillier’s current domestic presence as well as expand into new regions domestically and internationally. As part of the transaction Re:Capital will provide the working capital and operational expertise necessary to secure the long-term future of the business.
Paul McGowan, Global CEO of Re:Capital, said: “Ernest Hillier is a very strong brand in the Australian market and we are happy to have this as our second investment in Australia. As we invest funds into Australia to help Ernest Hillier and similar businesses grow, we can also capitalise on our global network to help take Ernest Hillier’s great reputation for quality products to a worldwide audience.”
Mark Campbell, CEO of Hillier’s Chocolates, said: “We are delighted to welcome our new owners to the Hillier’s family, and see this as an exciting time full of opportunity for the business and our staff. For nearly 100 years we’ve built our reputation for the highest quality confections in Australia, and Re:Capital is the right owner to take the Hillier’s business to the next stage of growth.”
James Turner, Investment Director for Re:Capital Australia, said: “Hillier’s is the kind of business we enjoy working with. It has a great brand, a high-quality product and many opportunities for segment growth.”
HMV Ireland to open more concessions
February 13th, 2014
Hilco Capital’s Irish entertainment business, Xtra-vision, has confirmed that the first two of a further 15 HMV concessions will be opened in its stores at Finglas and Tallaght this weekend. The Tallaght Xtra-vision store has been relocated to a larger store on Belgard Road specifically to create sufficient space to incorporate HMV.
The new openings will bring the number of HMV concessions to 46 across Ireland. HMV Ireland also operates six full range stores at Henry Street, Dublin, Dundrum, Liffey Valley, Limerick, Belfast and Newry. The Belfast store is Ireland’s largest entertainment retail outlet.
Q413 Newsletter Out Now
February 3rd, 2014
The Hilco Capital Newsletter for Q4 2013 is out now – click here to read it now.
Hilco Capital appoints Canaccord Genuity to sell Denby Holdings Group
February 2nd, 2014
Hilco Capital has appointed Canaccord Genuity to seek purchasers for Denby Holdings Group, the manufacturer of high quality tableware, which includes the Denby, Burleigh, Poole and HartleyGreens pottery brands.
Given Denby’s strong trading performance and increased customer demand across the world, Hilco Capital has received a number of unsolicited approaches from trade buyers seeking to purchase the business and believes that now is an ideal time to explore the Group’s future opportunities. Hilco has appointed Canaccord Genuity, a leading global, independent financial services firm, to pursue possible sale options.
The Denby Group witnessed strong trading performance throughout 2013. The brand is synonymous with British heritage, design and quality and is popular with consumers across the globe. The Company recently reported a strong fourth quarter, leading to total sales of the ‘Denby’ branded product reaching £44m ($73m), an increase of 10% on the prior year.
A year of intensive focus on export markets resulted in Denby’s business in North America and the Far East, in particular, growing at record rates to reach £12m ($18m) and the business enters 2014 with a healthy order book across its major markets.
Paul McGowan, CEO of Hilco Capital said: “Following a strong performance in 2013, particularly in key export markets, we have received a number of unsolicited approaches from trade buyers seeking to purchase the business. As a result of this interest, we have thought it appropriate to appoint advisors to run a formal sale process.”
“We have been very happy with the progress of the Denby group to date and we recognise that a major international player may be able to further expand the Denby businesses faster than we can achieve.”
Hilco Capital Appoints Erik Van Heuven as Managing Director/Business Development Director, Europe
January 21st, 2014
Hilco Capital has announced the appointment of Erik Van Heuven as Managing Director/Business Development Director, Europe with effect from January 1, 2014. Van Heuven will be responsible for developing Hilco Capital’s business streams in Germany, Belgium, Holland, Switzerland, Austria and France as well as in Scandinavia.
Van Heuven previously worked at German shoe specialist, Hamm RENO as CEO International and Global COO and acted as a senior retail consultant at Karstadt, the major German department store chain.
Paul Mc Gowan, Chief Executive of Hilco Capital, said of the appointment: “Erik and I have worked together on a number of projects in Germany and Benelux since 2007, and I am delighted that he has agreed to join Hilco Capital. He brings with him significant multinational experience and is a proven senior international retail expert, having been an executive in companies across Europe with revenues between €300 million and €3 billion.”
Van Heuven commented: “Hilco Capital is the market leader in restructuring and I am very pleased to be given the opportunity to develop the business across western Europe.”
Denby Group Summary Trading Update
January 6th, 2014
Denby Pottery Group, manufacturer of high quality tableware, has enjoyed a strong trading year in 2013, including a very strong fourth quarter, leading to total sales of the eponymous ‘Denby’ branded product reaching £44m ($73m), an increase of 11% on the prior year. Despite reports of discounting in the High Street over the Christmas period, gross margins in the business also increased.
A year of intensive focus on export markets resulted in Denby’s business in Canada, the USA and Korea, in particular, growing at record rates to reach £7m ($11m) and the business enters 2014 with a healthy order book across its product lines.
Denby subsidiary, Burleigh Pottery, which is based at the Middleport Pottery in Burslem, also achieved record sales after a 20% increase in business over the prior year. This increase in business was achieved despite some disruption to the production facilities as the Prince’s Regeneration Trust works on the restoration of the historic Middleport Pottery.
Poole Pottery, which is now also based at Middleport Pottery in Burslem, recorded a 6% increase in sales during the year.
Pelé Awarded at HMV Football Extravaganza
November 1st, 2013
Pelé, arguably the greatest footballer of all time, was awarded the Legend of Football Award at the HMV Football Extravaganza on 29 October. Paul McGowan, Chairman of HMV and CEO of Hilco Capital, and Brian McLaughlin, Chairman of the Football Extravaganza, presented Pelé with the Nipper trophy at a star studded event at the Grosvenor House Hotel in London.
Previous award winners at the HMV Football Extravaganza, which recognises outstanding achievement in the world of football and contribution to the beautiful game, include Sir Bobby Robson (2001), Sir Alex Ferguson (2005), Eric Cantona (2010) and José Mourinho (2011). The 2012 event, in celebration of 20 years of the Premier League, recognised 5 players who had played more than 500 Premier League games. They were Sol Campbell, Ryan Giggs, Emile Heskey, David James, Frank Lampard and Gary Speed (who was awarded the honour posthumously).
The HMV Football Extravaganza, now in its 18th year, raises funds for Nordoff Robbins, a music therapy charity who work with isolated and vulnerable people across the UK.
Pelé said: “I am honoured to be receiving the Legend of Football Award at the HMV Football Extravaganza. It feels special to be recognised at such a prestigious event.”
Paul McGowan commented: ”Surely, given his amazing talent on the pitch and his dedication to the game off the pitch, no-one could be more deserving of the title Legend of Football. We are proud to be able to be part of an event to honour Pelé and to have such a good cause to benefit from the evening.”
HMV App Returns to the iOS App Store
October 31st, 2013
HMV has announced that its new digital music app is once again live in the Apple iOS app store in the UK. The new version of the app offers the same sound and image search and music library features but without the download link to the hmvdigital.com web store. Users can still use image search to easily listen to 30 second previews of tracks from CDs in store, sound search to discover the music around them and the library to listen to their music collection.
Users can quickly and easily purchase downloads on iOS devices – or any other smartphone – by accessing HMV’s new mobile download store at m.hmvdigital.com in their phone’s web browser. The mobile download store is also integrated with the new hmv.com website which launched last week.
Tracks purchased in the mobile download store can be played immediately in the browser and are automatically added to the ‘myhmv’ library in the iOS app. A download manager for PC and Mac allows purchased tracks to be added to the user’s desktop or laptop music library.
James Coughlan, MD of HMV Digital, said: ”We’ve had an extremely positive response since the launch of our new digital download products and the news today confirms that iOS users can continue to enjoy the hmv image and sound search features that everyone is talking about!”
Paul McGowan, CEO of HMV’s owners, Hilco Capital, said: “Whilst it is disappointing that direct purchases cannot be made in the App, Apple device users have a very simple and straightforward process through Safari to continue to purchase through HMV and to then listen to their tracks on their Apple device. This is a strong compromise position for HMV and we look forward to Apple device owners once again buying and enjoying their digital music through HMV.”
The HMV app is available now in the iOS and Google Play app stores.
Hilco Capital Newsletter Q313 Out Now
October 30th, 2013
The Hilco Capital Newsletter for Q3 2013 is out now, click here to download a PDF.