(Left) CEO of B&Q Asia Limited Steve Gilman with InvestHK's Simon Galpin after announcing B&Q will open its first store in Hong Kong in early 2007

The new B&Q shop will take up 120,000 square feet of the MegaBox mall in Kowloon Bay and involves a total investment of over HK$200 million (US$25.7 million).

The CEO of B&Q Asia Limited, Steve Gilman, said B&Q will be the first big box home improvement retailer in Hong Kong.

"Hong Kong is one of the largest and most affluent markets in Asia and is a centre for retailing excellence. We believe a B&Q store here will benefit Hong Kong consumers by making home improvement more accessible."
 
According to Mr Gilman, it will offer a wide range of home improvement products, with over 25,000 individual product lines available under one roof. B&Q will also provide quality services solutions, including installation and decoration services for apartment and room renovations.

Mr Gilman expects the new store to do well. He said: "We do not only hope to introduce our products, but also to bring in a new concept of DIY home improvement to the Hong Kong market. We are confident that our quality assured services and international and B&Q branded products, complemented by an inspirational environment, will excite and well received by local consumers."

The associate director-general of Investment Promotion at Invest Hong Kong, Simon Galpin, sees B&Q's investment as a vote of confidence by a major European retailer in Hong Kong.

B&Q is the number one Do-It-Yourself (DIY) retailer in Europe and the third largest in the world. With more than 60 stores opened internationally, including Beijing, B&Q employs over 38,000 staff worldwide.

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