Poundland Limited is a British variety store chain founded by Dave Dodd and Steven Smith in 1990, originally selling all of its items at the single price of £1.

[13] Poundland was co-founded by Dave Dodd and father and son team Keith[14][15][16] and Steven Smith in April 1990[17][18] with a starting capital of just £50,000 and an office in Sedgley.

In 1995, Steven Smith failed to plan for more warehouse space and retail growth pushed their storage capacity past its limits.

[23] Although enduring a troubled first few years, by the 2000s Poundland had become a multi-million-pound business, opening their 150th shop in Northampton in mid-2006 with steady increases in gross turnover throughout the decade.

[29] Despite this, Poundland closed stores not financially viable, even if well-positioned, such as in West Ealing where it was believed that high rental costs were one of the reasons why the company pulled out of the area.

[34] In early 2010, Poundland's owners Advent International were planning on cashing in on the resurgence in discount retailers by preparing to put the chain up for sale.

The report came as figures showed that value retailers were seeing a business boom in the current economic climate,[35] with Barclays Private Equity expressing an interest in a potential take-over of Poundland for about £200 million.

[25] On 4 May 2010, it was announced that Poundland had been sold to US private equity firm Warburg Pincus for £200 million[36] and was the subject of an initial public offering in March 2014.

[44] Poundland Local was first launched in the East Midlands and Yorkshire, with the stores[45] selling a core range of everyday groceries, snacks and household products.

The new Poundland outlet sells a wider range of foodstuffs including beer, wine and spirits, fresh fruit and vegetables in addition to chilled and frozen, which is planned to be rolled out to further stores during 2022.

",[19] yet started selling items for more than £1 from the mid-2010s onwards; the Advertising Standards Authority received complaints that the slogan was thus misleading and required it cease being used.

[62] Problems arising from inflation are dismissed by Poundland, such as freight costs which become lower when the pound is weaker, in turn counteracting the impact.

[29] Various sales tactics are adopted to counteract inflation and reduce costs, including decreasing the quantity of an item within a set (such as removing a pencil within a larger pack)[62] and replacing known brands with their own-brand alternatives.

[22] Poundland's typical appeal to low-income households is a reputation they are seeking to distance themselves from, as they expand into mainstream shopping centres and districts, with a focus on attracting higher earning consumers.

Boots responded to the findings by suggesting that the products available in Poundland stores were likely excess stock they had sold off below cost price which had been destined for overseas markets, with some directed into UK distribution without their permission.

[77] The retailer expanded into Northern Ireland and opened six stores before Christmas 2009, selling locally sourced goods such as milk as well as their usual branded products.

Where some high street shops reported a downturn in profits during the financial struggle, Poundland experienced growth attributed to rapid price inflation of numerous household necessities,[80] including increased sales of toothpaste and tinned food.

[citation needed] In 2008, Poundland faced controversy by green campaigners over transporting Polo peppermints 7,300 miles (11,700 km) into the UK from Indonesia, rather than sourcing the product locally and in spite of being close to the Nestle Rowntree's factory in York, which has made the mint since 1948.

Previous examples have included withdrawal of dangerous car jump leads in February 2006 found to only have a 3-ampere wire which, if used, could quickly overheat, melt and possibly catch fire,[59] as well as recalling Halloween witch hats in October 2008, after checks revealed a small number of chemicals classified unsafe.

Council inspectors found poor hygiene, mouse infestation and food contaminated by mice chewing open the packaging and leaving droppings and urine inside, which were then re-sealed and sold to the public.

[107] Mouse droppings and evidence of urine were found on food shelves alongside gnawed and soiled packets of biscuits, nuts, sweets and popcorn.

"[111] Poundland backed down from the ban on 31 October,[112] and released the statement that employees will be allowed to "use their own discretion in wearing poppies" after hundreds of customers threatened to boycott the store.

[113] In December 2017, Poundland ran a social media campaign with a series of #ElfBehavingBad posts based on humour and double entendres.

The complaints were upheld and Poundland told not to show the posts in their current form again, as well as ensuring their adverts were presented with a sense of responsibility and did not cause offence.