Poundland Steve is back
A former Black Country market trader who founded the Poundland empire has launched a brand new high street business that is set to create up to 300 jobs by Christmas. Steve Smith and father Keith walked away with around £50 million when they were bought out of the Willenhall-based 'Everything for a £1' business in 2002.
But Steve, still only 44, is hoping his Midas touch with continue with Only2, a brand new enterprise selling everything for £2.
He said today: "When we launched Poundland you could buy a pint of beer for £1. Now a pint will cost you £2. You can't get as much for a £1 as you used to, but for £2 we can get a bigger range of much better quality goods."
That ranges from roller blinds, kitchen sets, lamps and light fittings to branded PlayStation2 games and iPod accessories.
The first store opened three weeks ago in Brierley Hill and has been a storming success, said Steve.
The plan is to be bigger and better than the existing pound stores.
"The size of the goods we can sell for £2 means customers need trolleys rather than baskets," he said.
The next stage is to set up a 55,000 sq ft warehouse on the Leamore industrial estate in Walsall and then open another half-dozen stores across the Midlands by Christmas, creating up to 300 jobs.
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