New Look is a British multi-channel retailer, selling womenswear, menswear and clothing for teens. Founded in 1969 in Taunton, Somerset by Tom Singh, the retailer has grown internationally since its inception and now operates more than 600 stores worldwide, with locations in mainland Europe and Asia. In 2004, six years after floating on the London Stock Exchange, New Look was taken back into private hands by Singh and its then-chief executive Phil Wrigley, with backing from private equity groups Apax Partners and Permira. The retailer changed hands again in 2015, when South African firm Brait acquired a controlling stake in the business for £780m, with the remaining 10% of shares remaining in the hands of the Singh family. Like many of its mid-market fashion competitors, New Look has found the going tougher since the 2008 financial crisis. It launched two separate company voluntary arrangements in 2018 and 2020 - the latter following the impact of the coronavirus crisis - with former chief executive Alistair McGeorge parachuted back in to help rescue the business, restructure its debt and rationalise its store portfolio. New Look is now seeking to build on those firmer foundations.
While many retailers will approach uncertain conditions by looking to reduce costs and scale back, arbitrarily cutting investment is not a long-term approach, believes Lisa Hooker
Matalan has appointed retail veteran Nigel Oddy as chief executive on an interim basis, while founder and chair John Hargreaves is to step down.
Fashion retailer New Look has promoted Helen Connolly to become chief executive, succeeding Nigel Oddy.
New Look boss Nigel Oddy has confirmed plans to exit the business.
The cost-of-living crunch, spiralling business costs and Russia’s invasion of Ukraine have created uncertainty and a scale of challenge never experienced by retailers in living memory.
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