Fexco take major interest in vouchers

KERRY-BASED financial services group Fexco could be in line for a major expansion in Britain after buying a majority stake in The Gift Voucher Shop, the company that sells gift vouchers for over 500 shops through the Irish post office network.

Fexco take major interest in vouchers

The Gift Voucher Shop was set up in September, 2002, and was among the first companies in the world to offer gift vouchers for multiple retailers through a single distribution network. The company sells gift vouchers for well-known shops, including Brown Thomas, Arnotts and Argos, through over 1,000 post offices in Ireland as well as by phone and internet. The company has enjoyed considerable success in Ireland and expects to record gift voucher sales of up to 30 million in the current year.

Plans to expand the service to Britain in future years could result in annual sales of many times this figure.

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