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New Retail sale of dogs venture
http://promomagazine.com/ar/marketin...rint/index.htm (Printed below) Purebred Hotbed A group of IKEA and Gap veterans are trying their hand with puppies. Woof & Co. has opened two stores in Boston malls, with plans to add six stores in 2004 and roll national in 2005. The chain sells purebred puppies and upscale accessories, a distinct niche in the $30 billion-plus U.S. pet industry. It competes with private breeders, not big-box chains like PetsMart or Petco. ³We're not interested in going head-to-head selling dog food,² says Linda Povey, partner at consultancy Kanter International, which created Woof & Co. ³Their strategy is high volume, low prices. We're a lifestyle store.² The Edison, NJ-based start-up gets its puppies from Hunte Corp., a Goodman, MO-based broker for U.S. breeders. Prices range from $750 to $1,800, comparable to private breeders, with a 50%-plus profit margin. Each pup has a three-year warranty against congenital and hereditary defects. Puppies travel by air-conditioned truck to stores, where they get 75% of retail space (for 80% of sales); high-end accessories get 15%; basics get 10%. Former IKEA U.S. president Steen Kanter took a request from Meridian Venture Partners to save nine Family Pet Centers from Chapter 11 in 2002. IKEA and Gap veteran Don Jones became Woof & Co. CEO in October; Baby Gap alum Karen Oden took on operations in November. Woof & Co. is building a database on owners and their puppies. For now, marketing is in-store only, with grand opening info mailed to pet owners within five miles. Marketing will ramp up when markets get a critical mass of stores. |
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