What Led To The Departure Of Two Core Executives Of New Look?

According to the world clothing and shoe net, after publishing less than a week's annual report from the profit and loss account, the British high street brand

Another unstable factor came from Group Ltd., the two core management of the group.

British Retail weekly pointed out that New Look

Director Christopher Englinde and accessories and cosmetology director Amanda Wain Wain has left the company. Christopher Englinde has joined the group in 2015 and is responsible for the group's men's expansion business. The business is highly valued by the group and has become the two important piece of the group's high valuation.

The departure of Christopher Englinde and the slow pace of expansion in Group China show that the two pieces of the group are likely to fail.

In the annual report of this month, New Look said that in the last fiscal year, China only expanded 25 new stores, and increased 38% of the 2016 fiscal year, not only did not speed up, but also greatly slowed down; in addition, the group expected that the 20 men's clothing stores that had increased by 20 had actually completed 75%, with a net increase of 15 to 21 during the year.

As for Amanda Wain, it moved from the second largest department store in the UK, Debenhams PLC (DEB.L), to New Look in December 2013.

For three and a half years, Amanda Wain is mainly responsible for the footwear, accessories and beauty business of the group.

In an interview with industry magazine, Christopher Englinde said New Look Look is not in line with his vision for the future. He will join the menswear brand Ljung as interim general manager in July. The menswear brand is founded by Marcus Larsson, and its main markets are Denmark and Sweden.

The preliminary annual report released on Tuesday showed that the New Look Look, the UK's high street BRAND trying to expand its overseas expansion to achieve its IPO plan, is paying the price for its unrealistic plan.

The group's revenue declined by 2.4% to 1 billion 454 million 700 thousand pounds in the 2017 fiscal year ended March 25, 2017, of which the sales of New Look brand was 6.6% lower than that of the sales. The British market was 6.8% less than the sales. Only the electricity business revenue continued to rise, of which the self operated electricity supplier revenue rose 14.3%, while the third side platform electricity supplier sales rose 30.9%.

Sluggish sales and radical investment led New Look to slump 31.8% to 155 million pounds in fiscal year 2017 after adjustment in fiscal year 155 million, 227 million 200 thousand pounds in fiscal 2016, and 44.1% in continuing business profits, which fell from 174 million 700 thousand to 97 million 600 thousand pounds. Pre tax profit from the profit deficit was 16 million 600 thousand pounds, while the pre tax profit in 34 million 900 thousand fiscal year was 34 million 900 thousand pounds.

After China's fund expansion has swallowed up bad results, New Look's latest store data also show that as a brand with no reputation in China, its rapid expansion capability is lacking. Its South African boss, Christo Wiese, claims that the crazy plan of 500 stores in China in the past three years is likely to be postponed or even stranded.

Group chief executive Anders Kristiansen said in the earnings report that at present, the retail industry has become more competitive than ever before, and claims to have seen the trend of consumers' "buy and wear". Therefore, the group will make changes in compliance with the trend. It is trying to provide more convincing prices and reduce reliance on discount sales.

For the "impure motives" of New Look expansion in the Chinese market, No Agency, a fashion industry research and consulting agency, has early warning. In 2016, the agency reported to its internal customers that the popularity of New Look in China is not enough to expand its annual 100 stores, and its expansion speed is higher than that already settled in China.

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