Now I don't want to be a doom monger but it has to be said that troubled times are ahead for clothing retailers. The high street and the designers are going to face a tough time if they get it wrong. Women aren't going to stop shopping for clothes but being more selective is going to have an impact. All out more, more, more isn't going to be an option either due to moral choice, lack of funds or a sense of saving. I'm unsure which designer houses are going to be impacted but we'll have more of an idea of this after Q3 next year (June, July, August 2009).On the high street there are clear indicators already. USC are already in administration with a rescue package underway which won't necessarily prevent the inevitable.
Sadly it includes the wonderful shop at Maison Bertaux.
Many stores have failed to change their customer experience (service, ambiance etc.) or their stock. A proliferation of the high street hasn't helped with the low to high end all competing for the same customers.
Sir Phillip Green is the key person and he seems to have the upper hand with Topshop and Dorothy Perkins. Dotty Ps will suffer but I suspect he has a business model to overcome any downturn. Primark is going to continue to provide that fast cheap fashion fix.
My predictions for wobbles and even the end in the UK high street are:
Jane Norman
Vestry
Morgan
Karen Millen
Whistles
All Saints
Debenhams
Ted Baker (women's)
even New Look
Taking a battering will undoubtedly be M&S
Oasis and French Connection will be put under strain as will Kew and Jigsaw. Plus John Lewis and House of Fraser in their clothing retail, they both carry the same concessions with a few exceptions.
Gosh that's quite a lot. Who do you think will bite the bullet or reign supreme?
images BBCiPS The breaking news that greeted me this morning was the collapse of Morgan the french retail chain with 33 stores in the UK ... and I'd written this two days earlier opps!
Hi there-oh wow, Morgans gone!! I hope Debenhams doesn't go, I like the concessions and the collaberations they do!
ReplyDeleteI think a lot of the retailers will have to face the financial crises. Happy New Year!!
ReplyDeleteI have the feeling some of the American department stores will feel the pinch - maybe entire chains won't fold, but I can almost guarantee the customer-free Macy's in my neck of the woods will close its doors by spring. Scary stuff.
ReplyDeleteOooh, doom and gloom indeed! I'm sure you are very on the pulse of the market there. I'm trying to figure out what's going to happen here in Canada.
ReplyDeleteseems that there is going to be a bit of a disaster. it all is begining now. I really don't know what is going to happen at my country! have a happy NYE
ReplyDeleteIt's a bit Darwinian, isn't it?
ReplyDeleteI was actually surprised to see that Morgan was still going, they went out of business here years ago.
Happy New Year, dear
ReplyDeleteLuv
xoxo
Morgan closed down ages ago in March 2008.
ReplyDeleteIt'd be sad to see all the shops closed, where do we shop now?
Happy New Year!!!
I went into my local Ann Taylor's and it looked like it had 10% of regular stock. It looked like they were closing. I asked and they told me they weren't.
ReplyDeleteUpdatet ref Morgan its stores had already closed in the UK earlier in the year but there were still consessions and the stores in France were the 33 ones remaining! I confused my countries...
ReplyDeleteI think MNG with also be massivly downsizing.
ReplyDeleteI think anything too "kooky" or "Eurotrash" - anything not very accessible - will feel the pinch.
TS will be OK because it's mainly frequented by young girls and women who have their Saturday shops to pay for this stuff.
Anything your mum goes too will be feeling the squeeze (boo cos I like some mum shops!)
In my neck of the woods Karen Millen has been shaky ever since it opened and I hope All Saints doesn't 'bite-it', coz they've always done a great job with menswear.
ReplyDelete