According to "Fashion Headline" news, British fast Voucher Codes fashion brand New Look recently said that it will gradually withdraw the men's products sold in British and Irish stores, and will be sold online, men's clothing stores will be closed, the focus of the group will be in the future Put it on the core women's wear and accessories business.
It’s not surprising that New Look, a struggling move, made this move. In fact, the New Look dilemma has been around for a long time:
In March 2018, New Look decided to sign the CVA Voluntary Bankruptcy Agreement, which plans to close 60 stores in the UK market, thereby reducing rental costs.
In October 2018, New Look decided to terminate the brand's expansion plan in China and officially withdraw from the Chinese market after closing 130 existing stores and Tmall flagship stores.
In March of this year, New Look announced the closure of 30 stores in the French market, followed by the announcement of bankruptcy in the Polish market and the restructuring of the company's management. Group operations general manager Dan Monaghan and business development director Steve Challes resigned.
Fortunately, New Look has also been transforming itself.
According to the latest financial report, thanks to the improvement of the brand's women's wear business and the significant improvement of online retail, New Look's sales have improved for three consecutive quarters compared with the same period last year, and the third quarter sales even recorded 0.9. % has grown by a small margin.
New Look executive director and CEO Alistair McGeorge said that completing the financial restructuring is the key to the plan to ensure the company's long-term profitability.
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