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Tag: Missguided

  • Missguided First Vietnam’s Store Opening

    Missguided First Vietnam’s Store Opening

    UK-based fashion brand Missguided Vietnam has opened its first store.

    Located on Level 2 of Ho Chi Minh City’s Saigon Centre, the new store is a part of the brand’s expansion internationally, which follows rationalization in its home market. The label has also opened its first franchised store in Dubai Mall, under a partnership with retail group Azadea.

    More stores are poised to open in the UAE, Qatar, Saudi Arabia, Kuwait, Bahrain, Jordan, Lebanon, and Egypt.

    Early February, Missguided closed its flagship in London’s Westfield Stratford City, which was also its first brick-and-mortar store, after three years of operating.

    The loss-making 20,000sqft store reportedly had two years left on the lease but Missguided negotiated to exit early.

    The brand now has only one store in the UK, at Bluewater shopping center in Kent.

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  • When Forever 21 join India’s Jabong

    When Forever 21 join India’s Jabong

    Indian fashion portal Jabong has added American fashion brand Forever 21 to its product portfolio. It definitely will give another option for India’s shopper to check the collections of Forever 21.

    A selection of goods including play-in tops, dresses, t-shirts, cosmetics, intimates and shoes will go online on Jabong, priced from Rs.499 to Rs.2400 (US$7.50 to $37).

    Jabong has introduced 20 new fashion brands this month and says it will add a further 15 before March 31. These include New Era Caps, WROGN, Mothercare, Roadster, Cover Story, AAY, Zivame and Mast and Harbor. Jabong now has approximately 2000 brands in its product portfolio, out of which 50 brands have been launched in 2017 alone. Its portfolio also includes Topshop, Topman, Dorothy Perkins, Missguided and Next.

    “At Jabong, we continuously strive to offer the best of global fashion brands to our shoppers. Forever 21 is a pioneer and global leader in the fast fashion category and its addition will strengthen the comprehensive line of finely curated international portfolio on Jabong,” said Gunjan Soni, head of Jabong.

    Abhinav Zutshi, India business head of Forever 21, said the combined strengths of Jabong and Myntra will give the brand exposure to a major share of India’s online fashion retail market.

    “This complements our aggressive offline strategy and we are excited to herald a long association with Jabong,” he said.

    Jabong is a multi-brand fashion e-store offering some 350,000 products across footwear, apparel, jewellery and accessories.

  • Kerry Logistics supports fast fashion label Missguided’s global expansion

    Kerry Logistics supports fast fashion label Missguided’s global expansion

    Multi-channel fast fashion retailer Missguided is working with Kerry Logistics Network Limited, Asia’s leading logistics service provider, as supply chain partner to support its ongoing global growth.

    Kerry Logistics will handle all international air and ocean needs for the UK-based retailer, as well as providing a wide range of value-added services and on-the-ground logistics support through its extensive network across the Greater China region and Asia.

    Missguided will make use of Kerry Logistics’ Virtual Buying Office (VBO), a web-platform with supply chain and planning functions designed to provide visibility from Purchase Order (PO) creation through to final delivery, addressing inventory risk whilst further enhancing overall efficiency of its operations.

    “It is fundamental to our business strategy that we have a global logistics partner that has the flexibility to react quickly to our demands no matter where the consignment is coming from or going to,” said Brett Young, operations director of Missguided.

    “Our customers receive market leading options together with a high level of service for a very reasonable price, therefore the initial stock movements are imperative to our overall customer experience.”

    “By using proven, forward thinking partners such as Kerry Logistics, we are able to build on new initiatives, continually improve our customer experience, and in turn support our aggressive growth strategy,” added Young.

    “We are delighted to be working with one of the UK’s fastest growing and innovative brands. Seamless transparency will be fundamental in managing the fast-moving supply chain for Missguided. Our VBO is a highly functional supply chain management tool linking together all supply chain partners into one global system, optimising information flow and efficiency, and thus minimising risks along the supply chain,” said Emma Rowlands, sales director of Kerry Logistics (UK).

    “Our strengths in Asia, combined with the recent acquisition of Apex Maritime and its affiliated companies in the US, will enable a strong platform to manage the client’s strategic growth and expansion across the globe,” added Rowlands.

    Missguided opened its first physical retail space in Westfield, Stratford City, London, in November 2016, and its second, in Bluewater, Kent, is due to open in summer 2017.

  • Impressive Primark sales growth boosted by new stores

    Impressive Primark sales growth boosted by new stores

    The impressive Primark sales growth over the last half year has been boosted by network expansion with the addition of 16 stores across both Europe and the US – and exchange rates.

    The value retailer expects to end the first half with 329 stores, and 13.1 million sqft of trading space – up 12 per cent year-on-year. Like-for-like sales to date are flat compared with last year at a group level, brought down by store cannibalisation in the Netherlands, but fared better at home, up 2 per cent.

    But tourists drawn to Britain by the low pound have driven sales up 10 per cent at the company’s two London flagships.

    Parent company ABF expects Primark’s sales over the half year to be 11 per cent ahead of last year at constant currency rates. At actual exchange rates, sales are expected to be up 21 per cent.

    Kate Ormrod, senior analyst with GlobalData, says margin pressure will remain the big story for Primark in the second half, especially given its commitment to maintaining prices until August.

    “That’s a necessary move given the importance of staying price competitive at the value end of the market. As a result, operating profit margin for the full year is expected to fall. Some form of price increase can still be expected on Primark’s more expensive products, with investment in design and fit used to justify any hikes, ensuring shoppers still receive value for money,” she says.

    “Being known as the price leader affords Primark some protection at a time when disposable incomes are being squeezed; however, ensuring product ranges remain fashionable and relevant will be imperative to retain appeal.”

    Ormrod says this is particularly important as emerging players such as boohoo.com and Missguided continue to encroach on Primark’s fast fashion unique selling point, enabling them to steal customers and share.

    “Further investment in menswear to address new trends will be important to build Primark’s fashion credentials, as its offer remains more basics-driven than those of rivals such as New Look and H&M,” she concluded.

  • New Look loses market share in tough year

    New Look loses market share in tough year

    New Look’s share of the UK clothing market has fallen to 2.6 per cent for calendar year 2016 – from 2.7 per cent in 2015.

    Stores have failed to drive the necessary footfall to return its like-for-like performance to positive territory, with year-to-date (39 weeks to 24 December 2016) UK like-for-likes are down 7.3 per cent with the likes of Next, Primark and Matalan also finding it tough to grow organic stores sales during 2016. Moreover, weaker sales and significant levels of discounting throughout the year led to a 32.6 per cent decline in underlying operating profit to £111.5 million, bringing margins down 4.2 percentage points to 9.8 pr cent.

    The strength of the online competition has dampened the appeal of New Look’s physical stores.

    The fashion-led product mix, attractive pricing and inspiring shopping experience at the likes of boohoo.com, Missguided and Asos continue to encourage New Look’s core shopper base to browse and shop more online reducing the need to visit physical stores. This shift has benefited New Look’s online platform as has its investment in product styling, delivery options and editorial content.

    The double digit growth in online sales highlights that the problem does not lie with product – it is the number of stores New Look operates and their lack of responsiveness during periods of unseasonal weaker.

    Store closures, enhanced visual merchandising, increased product newness and adapting its seasonal mix and phasing is essential to return like-for-likes to growth and limit the threat of the online pure-plays.

    Honor Strachan