The first Costcutter stores were opened in 1986 by founder Colin Graves. The stores were located in different areas of York. A year later, the number of Costcutter stores grew and operations expanded outside of Yorkshire. In 1989, Nisa-Today’s retailer cooperative, made Costcutter a member of the organization.
In 1990, Costcutter opened its first store in the Northern part of Ireland. A year later, the company opened its first store in Scotland. The company also won ‘Symbol Group of the Year’ in the same period. In 1992, Costcutter opened its Barnsley distribution centre. In 1993, the company opened its 500th store.
In 1994, Costcutter’s new head office in the area of Dunnington,York was completed. A year later, the company’s private label was introduced to the market. In 1996, Costcutter launched its Satellite Radio service, which it offered in all of its stores. Two years afterward, Costcutter opened its first store in Ireland. A year later, it launched its own website, Costcutter.com.
In 2001, Costcutter launched its first national press advertisement. In 2003, founder Colin Graves was given the ‘Asian Trader Editor’s Special Award,’ and in 2004, Costcutter signed a 10-year contract with Nisa for distribution of products.
The year 2005 was an eventful year for the company as it launched improvements in its systems, the E-PoS system and the C-PoS. It was also that year that founder Colin Graves received a ‘Lifetime Achievement Award’ and Costcutter’s first national television advertisement was launched.
In 2007, Costcutter’s 1500th store was opened. Also in the same year, Bibby Line Grp. acquired a 51% share of Costcutter. In 2008, Costcutter won the ‘Symbol Group of the Year’ from an award-giving body in the retail industry.
In 2009, Costcutter chose Darren Gough for its high-profile ad campaign and he became the first ‘Face of Costcutter.’ In 2010, the company was able to achieve an earning of £600 million in one year.
Currently, Costcutter has more than 1,500 stores in different parts of the United Kingdom. It has corporate offices in Belfast and York. The company employs more than 600 people and has reached an annual turnover of £606 million (for 2009-2010).
Ownership Type: Private
Employees: more than 600
Geography: United Kingdom, Poland, Ireland
Demography: retail products consumers