The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The fashion retailer was struggling even before the pandemic, only emerging from administration in February, but successive coronavirus lockdowns have derailed any possibility of a recovery.
The company, which is targeted at women over 50 and employs 1,500 people, was bought out of administration by British businessmen Philip Day. Its collapse is another blow to his retail empire. Peacocks, Jaeger, Austin Reed and Jacques Vert, which are part of Day’s Edinburgh Woollen Mill Group, fell into bankruptcy last month.
The news adds to the crisis on the UK’s high street, with dominant players Debenhams and Topshop-owner Arcadia Group also failing this week.
As the German sportswear giant taps surging demand for its Samba and Gazelle sneakers, it’s also taking steps to spread its bets ahead of peak interest.
A profitable, multi-trillion dollar fashion industry populated with brands that generate minimal economic and environmental waste is within our reach, argues Lawrence Lenihan.
RFID technology has made self-checkout far more efficient than traditional scanning kiosks at retailers like Zara and Uniqlo, but the industry at large hesitates to fully embrace the innovation over concerns of theft and customer engagement.
The company has continued to struggle with growing “at scale” and issued a warning in February that revenue may not start increasing again until the fourth quarter.