A motley of movers and shakers have set the wheels in motion this week in the fashion industry, shaking up the retail landscape in more ways than one. From Matalan to PrettyLittleThing, names popular on the British high street have been stirring, bringing on new changes and reshaping their teams. Read on to find out who’s made the news and the impact of their shifts on the world of fashion retail.
1) Who’s Moved Where in the World of Fashion Retail?
It’s been a big year for fashion retail in 2020, with several high profile moves and changes. Here’s a quick round-up of the biggest movers and shakers:
- Jimmy Choo has named Faaz Abdul Kader, currently the Chief Executive of Rick Owens, as its new Global Brand President.
- Giorgio Armani has appointed Massimo Ferrero as its new CEO from Aeffe, the owner of the Alberta Ferretti, Philosophy and Moschino brands.
- Coach Inc. has appointed Joshua Schulman as its new CEO. He comes from Net-A-Porter, where he was President.
- Tommy Hilfiger has named Allan Vella as its new President and CEO, succeeding Daniel Grieder.
In addition to these top-level creative appointments, e-commerce platforms and retail brands have had their own shake-up too. Yoox announced its new CEO in September, and ASOS has named a new Chief Operating Officer. To top it off, the newly combined Coty-P&G luxury division has recruited Andreas Larsson as its new President and Chief Executive Officer.
2) Shifting Fashions: PrettyLittleThing, Matalan + More on the Move
It seems like the world of fast fashion is changing all the time – with no-one moving faster than sellers like PrettyLittleThing, Matalan, and others. We’re looking at some of the current trends in shifting fashion, and seeing what new items they’re offering, how their sources have changed, and more.
- PrettyLittleThing: One of the trendiest options at the moment, PrettyLittleThing are offering ever-changing, streetwear-inspired collections that mix celebrities and influencers with new fashion looks. Plus, their prices are very budget-friendly in comparison with designer boutiques.
- Matalan: At Matalan, classic fashion is being combined with modern looks. It’s a fashion brand that offers stylish, affordable clothing for all kinds of different occasions, and they’re very big on exclusive prints and tailored collections.
- New Influences: In this brave new world of fashion, there are also emerging trends from across the world. Japan, India, Portugal, and South Africa are all influencing the latest styles – bringing in a wider range of fabrics and shapes that we’re used to seeing.
Whether it’s PrettyLittleThing or Matalan, or the influence of other cultures, shifting fashions are allowing for more creative, personalized styles. Flexibility in fashion is becoming more and more important to fashion consumers, and it’s exciting to see how these brands, and others, adapt to these modern changes.
3) Brave New Ventures: What the People Moves at PrettyLittleThing and Matalan Mean
The people moves at PrettyLittleThing and Matalan have certainly been making waves in the fashion industry. Both established fashion retailers have been reinventing themselves, with the aim of opening up new markets, getting closer to the customer, and creating a differentiated product offering.
The PrettyLittleThing appointment of Rebecca Shepherd as its new CEO was an impressive step in the right direction – as shepherd has extensive knowledge and experience in the digital fashion industry, and with the company’s ambitions to focus on digital transformation, she is the perfect leader for this mission.
The team restructure at Matalan was also an important move. It saw the appointment of two experienced industry professionals in Andy Higginson and John Nurser. With a focus on developing a powerful omni-channel strategy and customer experience, they have the right credentials to make this happen.
Both of these changes demonstrate the commitment of both companies to innovation and modernisation in the fashion sector. They are both looking to take advantage of the new opportunities created by advances in technology and the ever-changing needs of their customers so they can stay ahead of the competition.
Their new ventures could see significant changes in the way they do business, such as:
- Using data and analytics to drive customer insights
- Developing personalised shopping experiences
- Exploring new technologies such as AI and machine learning
- Creating a more seamless customer journey
The moves made by PrettyLittleThing and Matalan are a sign of the times, and further evidence of the digital transformation wave that is shaking up the fashion industry.
4) Gearing Up for Fashion Success: Looking Ahead to What the Retail Shakeup Could Mean
The physical retail space is slowly taking a back seat to e-commerce websites, while great opportunities to grow and capitalize on fashion popularity open up. Now is the time to get ahead of the game and start planning to success in this new world of fashion consumption.
There are a few key components to keep an eye on, as we prepare for the retail shift:
- Lower Cost: Take time to assess costs associated with rent, inventory, and staffing as these have risen gradually over the years. Strategies to reduce operational costs can go a long way in ensuring the long-term health of your fashion business.
- Focus on Experiences: To remain competitive, it’s important to ensure that your retail space offers a unique experience for customers. Keep up with the latest technology and tailor-made design elements in order to create an environment that will draw customers in, while still encouraging sales.
- Partner with Influencers: In today’s social media-driven culture, teaming up with high-profile influencers can provide you with the necessary exposure to a larger audience. Establish relationships and capitalize on the collective brands’ recognition, to create a unified look and message.
- Be Ready for Change: As the landscape shifts, it’s essential to continually reassess your current strategy, and adjust trying to reports customers needs and wants in the most efficient manner. Staying flexible and open to innovative ideas is the ticket to a successful fashion brand in the years to come.
This week has seen plenty of fashion retail personnel shakes ups, with many well-known companies looking to make new moves. With refreshed teams in place, only time will tell what energies will be brought to each respective business. Perhaps soon, the results of these leadership decisions will be revealed.
