GAME Digital launches IPO after 213% online sales increase
GAME Digital launched its IPO on Friday, valuing the business at £340m. This was exciting news for Salmon because we have worked with GAME since 2011 and played a key role in developing their online proposition.
Under new ownership and management since April 2012, GAME has successfully completed a significant restructuring and implemented a number of initiatives designed to position them for long-term growth. GAME now operates an omni-channel model with 560 stores in the UK and Spain, eCommerce and mCommerce channels and an award-winning UK app.
Over Christmas 2013, GAME was the biggest growth story in UK retail - with store sales up by 90% and online sales up by 213%. The retailer said at the time that improvements to its website, mobile site and the introduction of a new app had driven online sales, as had the extension of its trade-in offer to online customers.
GAME Digital chief executive Martyn Gibbs, said on Friday: “GAME Digital is a profitable and cash generative business with a great team, strong supplier partnerships and exciting digital growth opportunities. These fundamentals have enabled us to attract high-quality investors who we welcome into our business.”
Gibbs has previously said, that while they have no plans to expand stores further overseas, GAME could launch its digital offer in other countries. “There are opportunities with our web platform and our digital architecture. There’s nothing to stop us looking there in the long term.”
We're proud to have played a part in GAME's omni-channel transformation and look forward to their continued success. If you'd like to read more about our work, you can find details here.