Blog: Leonie BarrieLaura Ashley stores fetch 2 euros

Leonie Barrie | 2 September 2003

A couple of years ago British clothing and furnishings retailer Laura Ashley was talking about Europe as a potential route for expansion. Yesterday it came one step closer to turning its back on the continent after selling off its 11 Benelux stores for the nominal sum of 2 euros. And by the end of the year it hopes to have pulled out of Europe completely.

The change in strategy says a lot about the volatility being experienced in retailing right now. The store group, which reported a full-year loss of £14.1 million in the year to January 2003, has been fighting a losing battle against economic downturn, poorly targeted products, low sales, high running costs and a dearth of tourist traffic.

Offloading its European business is widely seen as a positive move – but means the pressure will now revert to Laura Ashley’s 206-store UK business and, in particular, the poorly performing clothing division. This would be a challenge at the best of times, but all eyes will now be on the firm’s two chief executives – appointed by parent Malayan United Industries – who have already been criticised for their lack of experience in running a UK fashion retailer.

BLOG

Digital pieces of the fashion supply chain take shape

The digital pieces of the fashion supply chain puzzle are starting to come together, according to executives at the recent Texprocess apparel technology trade show in Frankfurt, Germany....

BLOG

Latest supply chain leaders?

Swedish fast-fashion retailer H&M, Zara brand owner Inditex, and sportswear giant Nike are not only among the world's leading brands, they also have some of the best supply chains too, according to a ...

BLOG

Finding a solution to the sustainability problem

The key message at this year's Copenhagen Fashion Summit was that the global apparel and textile industry needs to take a holistic view on how it tackles sustainability and responsible sourcing – with...

BLOG

Industry welcoming move to renegotiate NAFTA

The US textile industry has welcomed President Donald Trump's decision to renegotiate NAFTA, saying it is in America's national interest to modernise the trade agreement....

just-style homepage



Forgot your password?