Thursday, 9 June 2011
New Look in Financial Crisis?! To the shops!
[Image taken from New Look's website].
It has been reported today that the British retail giant New Look has posted profits of £0.0, apparently due to overpriced lines and misjudged products that failed to get the cash desks ringing. My local branch is, unfortunately, about the size of a shoebox (as is our Topshop and Dorothy Perkins) and could do with a move to a bigger, brighter premises, where I'm sure that it would perform better. The town itself is crying out for a wider range of womenswear, which New Look could easily provide. As for the stock? There's still so much that New Look can offer, particularly regarding its footwear department. I have my eye on the white court shoes, seen above, which channel the 1960s and are priced at a very reasonable £12.99. The store also translates the season's key trends well, but I think it could do with cutting out some of the more basic partywear or workwear and offering more directional pieces for these occasions.
The Idol brand, one of the more high-end diffusion lines of New Look, has brought out some fantastic styles which would easily be snapped up, but it is only available in selected brances, meaning that many consumers just aren't aware of it unless they go online. Meanwhile the Giles Deacon range is a brilliant addition but deserves to be continually championed because it shows that young designers believe in New Look and want to collaborate with its team. Many of my friends didn't even know when he had a collection in store, purely because they didn't really pay attention to the label in the clothes and they felt it could do with being given a stronger presence.
I really do love shopping at New Look (when my pitiful bank balance allows), and I hope to continue doing so in the future. It would be a shame to see this high street stalwart diminished. I hope that the company manages to pull itself out of this situation and continues to serve us for decades to come.