AO World buys camera retailer Jessops from Peter Jones
AO World has acquired the camera retailer Jessops from Dragons' Den star Peter Jones, completing a deal that includes Jessops's seven remaining UK stores and its secondhand reseller subsidiary Camera Jungle. The acquisition forms part of AO's strategy to expand beyond its core categories of white goods, mobile phones and televisions into adjacent electricals markets, enabling the company to increase customer spending across multiple product types.
Jessops generated £19.8m in revenues last year with a pre-tax loss of £1m, representing a 6.5% revenue increase but continuing losses. The retailer, founded in 1935, has experienced significant difficulties over the past two decades, entering administration three times, most recently in 2021 following pandemic-driven store closures that reduced its estate from 17 to fewer shops. The Camera Jungle secondhand business acquired alongside Jessops will complement AO's existing musicMagpie operation, which was purchased in December 2024 and specialises in buying and selling pre-owned electronics.
- AO acquires Jessops and Camera Jungle to diversify product categories
- Jessops had £19.8m revenue but £1m pre-tax loss last year
- Troubled 90-year-old retailer entering third administration period before takeover
Business Celebrity Entertainment Software Technology TV
Read the full article at the source →
Originally published by The Guardian as “Flash sale: AO snaps up camera seller Jessops from Dragons’ Den star Peter Jones”.