New Look (company)

New Look Retailers Ltd
Private
Industry Retail
Founded 1969
Taunton, Somerset,
United Kingdom
Founder Tom Singh
Headquarters Weymouth, Dorset, United Kingdom
Number of locations
 1,160 approx. (2014)[1]
Area served
 Worldwide
Key people
 Christo Wiese
Anders Kristiansen, Chief Executive
Products Clothing
Revenue Increase GBP £1,528 million (2014)[1]
Increase GBP £805.9 million (2014)[1]
Owner Brait SA
Website www.newlook.com

New Look is a South African-owned British global fashion retailer with a chain of high street shops. It was founded in 1969 and has been owned since May 2015 by investment company Brait SA, controlled by Christoffel Wiese. The chain sells womenswear, menswear, and clothing for teens.

History

New Look was founded by Tom Singh in Wellington, Somerset in 1969.[2] Since then the company has rapidly expanded and now operates across a chain of over 1,000 stores internationally, including Belgium, France, the Netherlands, the Republic of Ireland, Romania, Malta, Malaysia, South Korea, Singapore, Thailand, Indonesia, United Arab Emirates, China, Germany, Russia, Bahrain, Saudi Arabia, Azerbaijan and Poland, and a staff of over 30,000. The group had a turnover of £1,147 million in 2008 with profits of £180 million.[3]

New Look was owned by private equity groups Apax Partners and Permira, and founder Tom Singh,[4] until May 2015 when it was acquired by Brait SE for £780 million. Brait also owns the health club chain Virgin Active and has a minority stake in Iceland Foods.[5]

In 2008, New Look continued its expansion in the GBE and opened its largest store till then in Chicago One Shopping Centre. In February 2009, its 40th anniversary year, it opened its first store in Russia.[6]

In July 2010, New Look opened its 300th flagship store in Glasgow Fort Shopping Park. The store is a massive 18,000 sq ft (1,700 m2). It was built on the site of a former Borders store.

The largest New Look store in the world opened in Dublin, Ireland on 4 November 2010, located at the Jervis Shopping Centre.[7] It is the 29th New Look store in Ireland.

In 2004, after six years afloat, the company withdrew from the stock market and was taken back to being a privately owned business by founder Tom Singh and chief executive Phil Wrigley, and private equity investors Permira, Apax Partners and Quillian Investments.

On 26 April 2007, a fire occurred at a New Look branch in Oxford Street, London. The subsequent investigation revealed an extensive catalogue of failings relating to fire safety precautions and measures. The company subsequently pleaded guilty to criminal charges and on 25 November 2009, was fined a total of £400,000 with £136,052 costs.[8]

In 2010, the fines were upheld by the Court of Appeal.[9]

New Look Men Stores

In August 2015, it was announced that New Look planned to open stores dedicated to menswear. The chain detailed their interest in expanding into menswear after a successful trial in the UK, and a half-year surge in sales. Previously, only larger New Look stores, or those located in prime areas, carried menswear ranges.

The company planned to open 20 menswear stores by 2016 and currently has over 10, with growth continuing.

Promotions

In 2007, New Look launched its first advertising campaign for three years. The same year it used online advertising for the first time and launched its transactional website, which went live in December 2007 and currently carries womenswear, menswear, Generation 915 for teens, footwear, accessories, lingerie, maternity, tall, petite and Inspire (sizes 18–26).

See also

References

  1. 1 2 3 "New Look Retail Group Limited Annual Report 2014" (PDF).
  2. ↑ "New Look - Our Company". Newlookgroup.com. Retrieved 13 October 2013.
  3. ↑ Sunday Times Top Track 100, 29 June 2008.
  4. ↑ Moulds, Josephine (4 June 2013). "New Look returns to profit". The Guardian. Retrieved 27 October 2014.
  5. ↑ Farrell, Sean (15 May 2015). "New Look snapped up by South African tycoon". The Guardian. Retrieved 10 October 2015.
  6. ↑ "Home". New Look. Retrieved 13 October 2013.
  7. ↑ "Press Release - Biggest New Look Store Launches in Dublin". 24-7pressrelease.com. 5 November 2010. Retrieved 13 October 2013.
  8. ↑ "UK high-street firm New Look fined for serious breaches of fire safety | Fire News". TheBigRedGuide. Retrieved 13 October 2013.
  9. ↑ "New Look Retailers Ltd v London Fire & Emergency Planning Authority [2010] EWCA Crim 1268 (16 June 2010)". Bailii.org. Retrieved 13 October 2013.
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