Matchbox giftware franchises take silver in BRW Fastest Growing Franchises list

BRW has released its list of the fastest growing franchises for 2011, announcing Matchbox giftware franchises as Australia’s second fastest growing franchise business.

Matchbox lead the Retail Trade - Homewares sector, posting $20.26 million in revenue for the 2009-2010 financial year, with each of the company’s giftware franchises turning over an average of $1.35 million.

The independent, family owned Australian company has quickly ascended the BRW list, jumping to second place from its 2009 fourth place result. In the past three years to June 2010, Matchbox has recorded a growth of nearly 150%.

Managing Director of Matchbox giftware franchises, David Cohen, notes that the company’s continued growth and strong position in the retail homewares industry has prompted a national expansion plan that aims to establish 60 new stores over the next five years.

“We are looking forward to an exciting year ahead as we continue to capitalise on our strength and expertise in this market, with a view to opening our first two franchises in New South Wales and continuing our successful growth in QLD and WA,” he says.

Mr Cohen adds that Matchbox’s recipe for success is built around a strong commitment to “creating a point of difference in a market that is traditionally dominated by generic homeware offerings from large retailers and department stores.”

Founded in 2005, the Victorian company now has 17 stores operating in the state, and has expanded to boast three homewares franchises in Queensland and four in Western Australia - a total of 24 stores.