New Look is a British multichannel retailer, selling womenswear, menswear and clothing for teens. Founded in 1969 by Tom Singh, the retailer has grown internationally, now operating around 600 stores worldwide. Its ecommerce business serves nearly 70 markets via its transactional website and mobile app. The group has been 90% owned by South African investor Brait since 2015, with the remaining 10% owned by interests of the founding Singh family and management. The value-led fast-fashion retailer has struggled in recent years, resulting in a CVA in 2018. Overhauling its product proposition and aligning its in-store and online journeys have been at the top of the agenda to restore its broader appeal and good value credentials. New Look has also overhauled its brand strategy to broaden its product appeal to a wider audience, rather than chasing a “young and edgy” customer. The retailer is focused on driving its multichannel capabilities including its click-and-collect service to compete with pureplay rivals Missguided and Asos.
New Look boss Nigel Oddy has said Monday’s favourable high court ruling will allow the retailer to put the fraught legal fight with some of its landlords behind it and focus on rebuilding for the future.
New Look has entered a High Court battle with retail landlords over its proposed restructuring plans.
Retailers have voiced disappointment that they will not be able to fully open their doors again before April 12 and concerns about the possibility of the post-lockdown timeframe changing again.
Following a year where business’ D&I agendas have come under scrutiny, 16 brands including M&S, New Look and Sainsbury’s Argos have partnered with Retail Week’s Be Inspired programme to promote diversity and empower their teams.
New Look has completed a major recapitalisation of its finances.
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