Price has a career spanning more than three decades, including almost five years leading Marks & Spencer’s Clothing, Home and Beauty business. He previously served as CEO of F&F Clothing, managing director of BHS and trading director at Marks & Spencer, following more than 15 years at Next.
In his role at Matalan, Price is working closely with the executive and product teams.
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“Matalan has a combination of strengths that gives it a significant opportunity: a highly recognised brand, millions of established customers and genuine affection for the business,” said Price.
“What I’ve seen since working with Matalan has reinforced my confidence in the direction it’s taking. The business has already made significant progress in strengthening the proposition and modernising Matalan, and customers are responding positively.
“I’m seeing stronger, more contemporary product, refreshed stores creating a more inspiring environment, and investment in omnichannel, including the launch of Matalan’s new app.
“What’s particularly interesting is the headroom that remains. Matalan doesn’t need to introduce itself to the UK customer. The opportunity is to give a large and established customer base more reasons to choose Matalan, more often, with product that excites them and an experience that works around how they want to shop.
“Having spent much of my career in clothing retail, I know how powerful the combination of stronger product and better execution can be when you already have that scale and customer reach. There’s real momentum in the business and significant opportunity still ahead.”
Karl-Heinz Holland, executive chair of Matalan, added that Price “brings exceptional product, trading and retail experience, as well as the independent perspective that comes from a career spent leading some of the UK’s best-known retail businesses.”
“Matalan has made significant progress over the past 18 months and we are seeing encouraging evidence that our strategy is working. We also know there is considerably more opportunity ahead of us. Richard’s experience, perspective and challenge are valuable to us as we continue to build on that progress.”
