DIY business – Dairygold rebuilding for the future

NEWS that Dairygold is to create more than 600 jobs in a new €30 million chain of DIY stores gives the non-farming community a glimpse into the rapidly changing world of traditional co-ops.

In an aggressive three-year assault on this booming market, the agri-business group plans to open 30 DIY/homeware stores. By the end of 2006, Dairygold’s new 4Home brand will extend nationwide, including 20 franchise operations and 10 company-owned stores.

Already boasting an annual turnover of nearly €1 billion, the group aims to be one of the top three of the DIY/homeware market with a target of €100m.

Facing a rapidly changing economic climate, it is refreshing to see the transformation of a company that refuses to mark time. Sadly, to survive, it had to undergo painful surgery, shedding 825 jobs. On a brighter note, by franchising its new business, the co-op will be creating jobs and helping smaller, independent hardware and DIY retailers to compete against the major chains.