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From a local Dutch company to European market leader with 2,300 stores and c80,000 employees in 11 countries

Investment date

2011 - current

Good to great

€1,205m

46% increase in EBITDA in 2022

EBITDA increased more than 17x from €71m in 2010 to €1,205m in Dec 2022

2,300

stores in 11 countries

Stores increased 9x from 245 to 2300 in 2023 with the number of annual store openings increasing since 3i investment, from 20-25 per year to 280 in 2022

Number of employees increased from c.8,000 to more than 80,000

25%

net sales CAGR between 2010-2022

Sales increased >14x from €607m in 2010 to €8,859m in 2022

Key events under our ownership

Rapid international growth delivered expanding into France, Germany, Luxembourg, Austria, Poland, Belgium, the Czech Republic, Italy, Spain and Slovakia with the majority of sales now outside the Netherlands

Aligned growth of supply chain operating model, operating 12 distribution centres and three cross-docking hubs across Europe to efficiently stock and sell products in 11 countries

Won "European Retailer of the Year" award for three consecutive years

Extended its sourcing from being purely Dutch to setting up direct Asian sourcing operations

Action Sustainability Programme (ASP) focussed on People, Planet, Product and Partnership. Scope 1 and 2 CO2 emissions reduced by 40% from a 2021 baseline.