Golden Discs
 | |
| Company type | Private (registry number: 26481) |
|---|---|
| Industry | Media/Music retail |
| Founded | July 1, 1962 in Dublin, Ireland |
| Headquarters | Dublin, Ireland |
| Products | Records, CDs, DVDs, Accessories, Merchandise |
| Website | goldendiscs |
Golden Discs, officially Golden Disc Group Ltd., is Ireland's largest and oldest home-entertainment specialist retail chain.
History
[edit]Origins and Early History
[edit]Golden Discs was established in 1962 on Dublin's Tara Street by Jack Fitzgerald and Tom Rogers as Trans-Atlantic Record Agency (TARA), in the location of the former Tara Records founded by George O'Reilly. The name Golden Discs was first used in 1966.
The chain experienced rapid growth in the 1970s and 1980s, opening 30 outlets including five in Northern Ireland.
Decline
[edit]The chain's presence around the country had diminished in the early part of the 2000s, making a significant loss by 2008[1] and entering examinership in 2009,[2] with multiple shop closures during this period, in line with similar trends with other physical music and movie retailers in other markets.
Tesco Ireland Partnership
[edit]In November 2016 it was announced that Golden Discs concessions would move into more than half of Tesco Ireland's supermarkets as part of a three-year commercial agreement. "Golden Discs at Tesco" concessions operated as standalone units within Tesco supermarkets, offering CDs, DVDs and Games. The agreement made Golden Discs Ireland’s largest home-entertainment retailer with 96 locations nationwide. This agreement came to an end in 2019.
Expansion
[edit]In 2013, Golden Discs reported its first profit since 2008[3] and has expanded its retail footprint since. In 2017, the company set about its first attempts at expansion since the national economic recession with the opening of three new branches in November of that year located in The Square Town Centre, Tallaght, Main Street, Wexford and a pop up shop at 52 Henry Street, Dublin 1. There was also a complete overhaul of the website in the same year to include making its full product offering available for purchase online.
In 2018, shops opened in Navan Town Centre Shopping Centre, Co Meath, Market Cross Shopping Centre, Kilkenny and Liffey Valley Shopping Centre, Dublin.
In 2019, an increase in turnover to €13.2m and profits to €192,000 was cited as being down to an increase in sales of vinyl.[4] The company opened new stores in Sligo, Tralee, Drogheda and Jervis Shopping Centre.
During and after the Covid-19 pandemic
[edit]Like all other Irish retailers, the chain shut its doors in March 2020 due to concerns regarding public health and safety in the Covid-19 pandemic. The company offered click-and-collect services from various shops during lockdown periods. Golden Discs stores re-opened in June 2021.
The company celebrated its 60th anniversary in 2022.
In 2022, the company closed its branch in Tralee, and subsequently closed two of its Cork City shops in 2023, diminishing its presence in Munster. In 2023, the company also closed its Dún Laoghaire shop after 26 years.
Operations
[edit]Products
[edit]Golden Discs stocks most formats of physical music and movies, including LP records, CDs, DVDs, Blu-ray discs, and 4K Ultra-HD discs.
Golden Discs also focuses on hardware, stocking various turntables, speakers and headphones. Recently, the company has expanded its footprint in Merchandise and K-Pop music.
Locations
[edit]
As of November 2023, there are 19 branches of Golden Discs (excluding the online store) located throughout Ireland:
- Dublin: Blanchardstown, Dundrum, Jervis Street, Liffey Valley, Stephen's Green, Swords, and Tallaght.
- Rest of Leinster: Athlone, Drogheda, Kilkenny, Navan, Newbridge, and Wexford.
- Connacht: Eyre Square (Galway City) and Sligo.
- Munster: Patrick's Street (Cork City) and Waterford.
Pop Merchandise
[edit]In 2022, Golden Discs launched a concept shop, Pop Merchandise (styled as 'POP!'), across most of its outlets as an in-store division specialising in music and movie-related merchandise. The company cited a dramatic increase in interest around pop culture products as the driving force for the new concept shop. The company has also said it may open stand-alone Pop shops.
Vinyl8
[edit]The Golden Disc Group also owns and operates 'Vinyl8', an online-only shop launched specifically for vinyl enthusiasts and people between the ages of 18 and 24.[5]
Loyalty Programme
[edit]Golden Discs overhauled their customer loyalty program as Golden Discs VIP which awards points or 'discs', which can be accumulated and redeemed on all products.
References
[edit]- ^ "Golden Disc losses rise to €1.58m". The Irish Times.
- ^ "Examiner appointed to Golden Disc group". The Irish Times.
- ^ "Golden Discs records first profit in more than five years". independent.
- ^ Taylor, Charlie. "Vinyl renaissance helps boost revenues at Golden Discs". The Irish Times.
- ^ "AIB Merchant Services back Golden Discs to sing the omnichannel song". The Irish Times.
- 'Vinyl revival' and new stores keep profits spinning at Golden Discs
- [1]
- Golden Discs records first profit in more than five years
- Golden Discs reports a return to profit
- Ireland’s last home-owned record store is back in the black
- Golden Discs back in Stephen's Green from Thursday