Comet Comment Why £2 not 99p?
Comet is no longer a shooting star and has virtually crashed to the ground. The brand and business has been sold for £2 by Kesa the former owners who retain Darty the french electrical retailer. Kesa can’t even bank the £2 as they retain the liability to the £40m underfunded pension scheme.
The team behind the buy out have strong ‘personal brand’ connections in retail. The triumvirate have run Somerfield, Budgens, Halfords and bought MFI for £1 plus BUT a french hardware chain.
Can the joint experience of these investing executives revive Comets fortunes. If not is the 66pence each that they each presumably paid for the company at risk?
From an Earlier Post update
Far Eastern brands are coming to the UK in an ever increasing quantity and with intelligent signs of quality.
Korean based LG’s Brand Identity is based on it’s vision ‘LG is a global leader and technology innovator in consumer electronics. Research & development is the driving force and LG understands the importance of design with commitment to improving its customers’ quality of life through innovative management.’
By jingo we don’t want our creativity and innovation to be overtaken as many of our manufacturing industries have been.
Yesterday 5 January I chose a new television. I avoided both LG and Comet brands as the feel was not right. This morning I came across these two unconnected posts (unconnected until now)