Richer Sounds

Richer Sounds plc
Unlisted plc
Industry Retailer
Founded London Bridge, England (1978)
Headquarters London, England
Key people
 Julian Richer, Founder
David Robinson, Chairman
Claudia Vernon, Marketing Director
Products Hi-fi, home cinema, LCD & plasma TV
Number of employees
 403 (2009)
Website www.richersounds.com
Richer Sounds store in the City of London
Richer Sounds store in Southampton
A typical shop layout
Richer Sounds original logo, 1978-2006

Richer Sounds is a British home entertainment retailer that operates online and through a chain of 53 stores distributed across the United Kingdom. The business is 100% owned by Julian Richer, the founder and managing director of the company.

History of the business

Richer Sounds formally began trading in 1978. Aged 19, Richer opened his first shop near London Bridge, with the help of photography retailer Vic Odden. For over 20 years, this store has been listed in the Guinness Book of Records for the highest sales per square foot of any retail outlet in the world.[1]

Richer Sounds was initially known for selling budget audio equipment in a ‘pile it high and sell it cheap’ fashion, but in recent years it has moved upmarket, and expanded its range and service offering from just audio products to encompass television, home cinema equipment and installations.

In 2007/8 the company launched ranges of audiophile hi-fi, multi-room and high-end home cinema solutions, with some stores providing demonstration rooms for customers. The company also instituted a corporate rebrand, redesigning their logo and literature and instituting a programme of facelifts, expansions and relocations of their stores.

In November 2013, Julian Richer announced to the press that, upon his death, his testament will bequeath 100% of the firm to a trust which will be owned equally by all employees of the company.[2][3]

Awards

In January 2011, Richer Sounds received a Royal Warrant.[4] Which? awarded Richer Sounds its prestigious ‘Best Retailer’ award for 2010 and 2015, ‘Best High Street Retailer’ for 2011, and also rated it a Which? Recommended Provider in 2013, 2014 and 2016.

See also

Notes

  1. The Independent: Julian Richer talks about employee suggestion schemes
  2. CustomerServiceWorld.com: Julian Richer talks about employee suggestion schemes
  3. Managementtoday.com: Ninety-five per cent of this man's staff say they love working for him. What's his secret?
  4. TopMBA.com: Increasing human and social capital by applying job embeddedness theory
  5. The Guardian: Richer Sounds' charitable donations
  6. Trainingmag.com: Richer Sounds' suggestion scheme
  7. BBC reports on Richer Sounds being named as winner of the Which? High Street Shop Survey, 2011

References

  1. ↑ Guinness World Records 2000. 2000. ISBN 0-85112-098-9.
  2. ↑ Kunal, Dutta (19 November 2013). "'I lack a spoilt child to run the business': Hi-fi tycoon Julian Richer to leave company to his staff". The Independent. Retrieved 19 February 2014.
  3. ↑ Jonathan, Moules (19 November 2014). "Richer Sounds business to be bequeathed to employees". The Financial Times. Retrieved 19 February 2014.
  4. ↑ http://www.whathifi.com/news/Richer-by-Royal-Appointment/
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