MHK UK reports 55% growth in sales for Q1 2021

Independent kitchen retailer buying group MHK UK has reported a 55% growth in UK sales for the first quarter of 2021.

22 Apr, 21

Independent kitchen retailer buying group MHK UK has reported a 55% growth in UK sales for the first quarter of 2021.

MHK UK reports 55% growth in sales for Q1 2021

 

MHK UK is part of the MHK Group which recently announced annual sales of € 7.657 billion, an increase year-on-year of 15.3%.

The wider group also increased the number of trade partners by 208 to a total of 3472, which resulted in a record bonus of € 150 million paid to its members.

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Its UK sales grew in 2020 by 43% and member retailers in the UK will receive double the 2019 payment.

Sales manager of MHK UK David Morris commented: “Whilst MHK UK is very much the ‘new kid on the block’ and is able to bring a high degree of ‘blue sky thinking’ to the KBB buying group concept within the UK. You must remember that it has the backing of a hugely successful parent company that’s been established for over 40 years!

MHK Group’s longevity, experience and unsurpassed buying power, enables MHK UK to offer some unique business advantages to the independent retailer; particularly new start-ups that might struggle to get the breadth of high – quality product, credit terms and business support they ideally require.”

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MHK UK offers retailers a truly range of kitchen furniture, appliances, worktops and accessories in a ‘one-stop shop’ with competitive trade prices, offering improved margins and greater profitability.

Most recently, the buying group introduced its Kitchen Experts concept, with a specific product portfolio “leading to specific competitive advantage” from manufacturers such as AEG, Fisher & Paykel and Manor Interiors.

In addition, the buying group offers independent retailers 30 days’ credit terms.

David Morris added: “Retailers, who come on board, don’t have to re-train their staff, change their business systems or re-brand their showroom.

Furthermore, other than a relatively small ‘one off’ payment, that’s very quickly offset with bonuses and the much – reduced cost of product, there are no ongoing membership fees.

“Should a retailer choose to leave us, which hasn’t happened in the UK yet, they get their joining payment fully refunded. There really is everything to gain and nothing to lose!”