Homebase have announced they are going into partnership with Tapi Carpets & Floors. The flooring experts will have a significant number of concessions within selected Homebase stores around the country. The first will launch on 20th December 2018 in Orpington in Kent.
It is all part of Homebase’s turnaround plan to reignite their retail profitability. The concessions will feature within Homebase’s flooring department, next to their own range. This will be implemented over the course of the next two years.
CEO of Homebase, Damian McGloughlin, said: “We see lots of opportunities to work with partners like Tapi to offer complementary products to help our customers complete their home projects.”
Tapi was launched in 2015 and has more than 100 stores in the UK. It is founded by Martin Harris, son of Carpetright owner, Lord Harris of Peckham.
He says: “Tapi is delighted to be partnering with Homebase to provide customers with quality flooring products for projects, big and small. To be selected by Homebase as its flooring partner of choice is proof that Tapi is doing what it set out to do, which is provide excellent services and products at great value.”
The exciting plans come after Homebase announced it had completed refinancing the business and was on track to be back to profitability by the end of 2019.
The business hit retail news just a few weeks ago when it secured an asset-based lending facility of up to £95m with Wells Fargo Capital Finance.
They are already £35m ahead of last year, following improved trading and an agreement to the Company Voluntary Arrangement, which was supported by 96% of creditors.
Homebase also appointed Ian Topping as part-time non-executive chairman last month. His role will be aiding the management team.
Mr Topping said: “The challenges Homebase has faced in recent years have been well documented, however, it continues to have a unique market position, and there is huge potential for the business to return to a position of strength.”
The introduction of Tapi into Homebase stores marks another milestone for the retailer and is likely to result in potentially more concessions.
It will enable the partnering companies to expand their businesses across the country to a wider customer base while helping Homebase to offer new products. Obviously, it also means they are bringing in a new revenue stream too, which should help them on their way to bringing their business back to profitability.