Ireland: Musgrave to rebrand Superquinn as SuperValu
The move will see up to 102 Superquinn support office staff made redundant, although 2500 store staff are to be unaffected by the rebrand.
SuperValu, formerly holding 19.5% of the Irish grocery market Kantar Worldpanel, 12 w/e 7 July 2013 now combines with Superquinn's 5.4% share, making it the second largest retailer in the country after Tesco, which in the 12 weeks to 7 July 2013 held a share of 27.6%. SuperValu will now have a portfolio of 222 Irish stores.
Commenting on the move, Chris Martin, Musgrave Group CEO, said, “We understand that some customers will be sad to see the Superquinn name change. However, the decision follows a considered review of all options and is an inevitable next step given the realities of a totally changed grocery market and what the Irish consumer now needs."
He continued, "As well as the name change, SuperValu will invest €10 million to complete the refurbishment of the Superquinn store network. In addition to the €15 million invested over the past two years, the award-winning SuperValu own brand range will also be introduced consisting of 2000 products priced at up to 33 per cent less than comparable brands. Shoppers will benefit from an improved in-store experience, better choice and value."
In July 2011, the Musgrave Group purchased the chain, which is largely located in Dublin and its hinterlands, for an undisclosed sum.
The famously customer-focused retailer introduced a number of key innovations to the Irish market, including one of the first major loyalty schemes in Ireland, 'SuperClub', in 1993.
source: www.esmmagazine.com