JG Windows acquires Dolphin’s Gateshead store
Takeover identified as a great opportunity for both parties as Dolphin recognises that branch doesn’t fit with future plans.
JG Windows has announced that it is to take over the 3,500 square foot store currently occupied by Dolphin Music in Gateshead’s Metro Centre, in the next few months.
The takeover will add a second retail outlet to the company's portfolio – in 2008, it celebrated a century of trading in the centre of Newcastle upon Tyne. JG Windows is the North East’s largest music store, selling musical instruments, printed music, CDs/DVDs and HiFi across three floors.
“When we purchased the city centre store from the Windows family in 2006, and with my background at Roland, not least in running the digital piano concessions within department stores, we knew that at some point we must take our business well and truly to the consumer market. The Metro Centre has always been in our sights as it is only 15 minutes from our city centre store and has 23 million visitors a year, of which many do not shop in Newcastle City Centre,” explained Rupert Bradbury, the store’s managing director.
“We approached Rob and Jason from Dolphin in October last year and realised that there was a clear benefit to both of our businesses by taking this plan forward. For Dolphin, largely down to it’s geographical location, the Gateshead store does not exactly fit with their future plans. For Windows, it fits perfectly into our future plans. Clearly there are many benefits of having two similar, but different stores so close to each other.”
Jason Tavaria, Managing Director of Dolphin Music commented: "On acquiring the Gateshead store in April 2007 from the administrators, following the receivership of the Williams Music group of stores, Dolphin Music have built a profitable business in a fantastic location. We feel that this success is largely a result of the hard work and support we have received from the store staff and also our other key stakeholders. Although we had no plans to sell the store at this time, JG Windows approached us with a firm offer and a strong desire to acquire the store. After due consideration, the board identified this as a great opportunity for both parties. Due to the location and specific retail model, it is true to say that the Gateshead store is not the best fit within our future retail strategy. In addition, the board feels that this opportunity will allow us to focus greater resources on our other retail stores and expanding e-commerce operation. Therefore, I am pleased to confirm that we have today agreed the sale of our Gateshead store to JG Windows and we wish them every success for the future."
“The Windows name is very strong in the North East, with most people from all generations having bought something from the store at some point in their life, and so this is a natural progression for us,” added Bradbury. “The current economic situation makes this even more exciting and in my opinion an even greater opportunity for customers, for suppliers and for our staff.
There are obvious economies of scale to be made, not least with the television advertising we run throughout the year on ITV now being able to direct customers to two locations. It is key for both parties that the transition from Dolphin to Windows runs smoothly, both Dolphin and Windows staff will be working very closely at all levels as well as with existing and new suppliers to ensure that this happens.”