Poundland sells 20,000 'engagement rings' at £1 each

By

Barbara Santamaria

Published
Feb 7, 2019

This week Poundland said its latest Valentine’s Day offering has been so successful that it has sold more than 20,000 ‘placeholder’ rings costing just £1 each in the space of a week.

The engagement rings are part of the value retail chain’s Bling Ring range, offering four versions in silver and gold and with gemstones resembling diamond, ruby and topaz.

The rings come in a plush red velvet box that says “Because we promise they’ll want to choose their own.”
A spokesperson from the brand said: “These are beautiful placeholder rings because we know they’ll want to buy their own. Our Bling Ring is setting the scene for the real deal.”

The company is running a social media campaign asking customers to share photos of their proposal with the hashtag #PoundlandProposal for a chance to win a £50 voucher.

Poundland’s latest Valentine’s Day offering follows last year’s ‘dine-in for two’ concept, which offered a £5 three-course menu or  a cheaper £2 option.

Last year, the retailer sealed a £180 financing deal with a US head fund to reduce its dependence on its scandal-ridden South African parent company Steinhoff International. Poundland is part of Pepkor Europe, which also owns Pep&Co.