Golden Discs tun­ing up to open three new stores

The Irish Times - Business - - BUSINESS NEWS - PETER HAMIL­TON

Golden Discs is open­ing three new stores this month, bring­ing its store count to 19 as it aims to at­tract customers back into bricks and mor­tar mu­sic out­lets.

Last week­end the brand re­turned to Lif­fey Val­ley shop­ping cen­tre in west Dublin seven years after clos­ing there. This week­end, the com­pany will open in Kilkenny’s Mar­ket Cross Shop­ping Cen­tre and the Cres­cent Shop­ping Cen­tre in Lim­er­ick, where it also pre­vi­ously had a store. The com­pany also has 80 Tesco con­ces­sions. Golden Discs will add 30 new em­ploy­ees.The busi­ness has also de­vel­oped an on­line pres­ence, which is “trad­ing ahead of ex­pec­ta­tions”.

“Our web­site car­ries a sig­nif­i­cantly deeper range of prod­uct than the typ­i­cal store so is more at­trac­tive for customers look­ing for lesser known prod­uct,” said Golden Discs chief ex­ec­u­tive Stephen Fitzger­ald. The com­pany re­ported a profit of €173,704 for 2017 on sales of €12.1 mil­lion, de­spite the grow­ing pop­u­lar­ity of mu­sic stream­ing ser­vices. This year, sales of vinyl prod­ucts have ad­vanced 60 per cent. “The vinyl re­nais­sance shows no sign of abat­ing,” said Mr Fitzger­ald.

“The ma­jor la­bels are reis­su­ing cat­a­logue al­bums ev­ery week as well as all the new re­leases. What started as a niche for­mat for hard­core mu­sic fans is more and more be­com­ing main­stream as mu­sic lovers use stream­ing ser­vices for con­ve­nience and pur­chase phys­i­cal prod­uct for tan­gi­bil­ity,” he added.

Golden Discs chief Stephen Fitzger­ald: vinyl back in vogue

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