New Look to enter outlet retailing for first time
New Look continues to explore new retail channels. The UK fashion retailer is trialing its first clearance/outlet store, opening at The Boulevard Outlet Centre in Northern Ireland on Friday.
Although New Look boss Nigel Oddy’s strategy is focused on driving profitability through full-price sales, the trial 2,406 sq ft space will test the clearance market for the brand. The new store will sell womenswear, footwear and accessories at discount, “offering fantastic value on last season’s fashions”, it said.
Emma Lessani, head of property at New Look, said: “With high trading figures and a large footfall of key audience demographics, we feel this designer shopping destination is the perfect location for us to trial an outlet store, reaching both new and existing customers across Northern Ireland, and offering great value on last season's fashions.”
The opening follows on from its decision to expand its partnership with Asda opening further concessions in the supermarket giant’s branches. However, the retailer is also opening UK flagship stores in major shopping centres such as Liverpool One.
It’s joining brands at the location such as Kurt Geiger, Guess, Jack Wills and Levi’s.
The outlet route has proved an important one for many fashion retailers. Higher-end and premium outlet malls, such as Bicester Village in Oxfordshire and The London Designer Outlet, have proved popular destinations for major brands and consumers and their appeal will only improve when tourist numbers grow again following the lifting of international pandemic-related restrictions.
New Look is gambling on the outlet market also being important for lower-priced brands.
New Look returned to profit in its last financial year to 27 March, 2021, despite the impact of the pandemic. Despite sales falling 40% to £542 million, it recorded a statutory pre-tax profit of £108 million against a pre-tax loss of £430 million the previous year.
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