Woolworths opens it doors online - Licensing.biz

Woolworths opens it doors online

Shop Direct confident that retailer can thrive on the internet as popular brand returns.
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The Woolsworth brand has begun trading again - only this time it's online only.

Shop Direct chief executive, Mark Newton-Jones officially unveiled www.woolworths.co.uk at a special press conference. The former High Street giant went into administration six months ago, before the name was snapped up by Shop Direct for reportedly between £5 and £10 million.

The online store will see a mix of toys, pick 'n' mix, Ladybird kids' clothing and entertainment.

The Telegraph reported that Newton-Jones had promised the business will make a profit in its first year, including the cost of buying the brand.

Analysts are also cautiously optimistic about its success. Verdict's Neil Saunders said: "Online retail is definitely outperforming the High Street, but the magnitude of that outperformance is getting less."

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