Reiss founder David Reiss aims to turn the premium retailer into a fast-fashion business from spring next year, dubbing it the “luxury Topshop” of the high street.
Reiss will change its lead times for trend-led items from three months to six weeks. The fast-fashion model - adopted by retailers such as Topshop and Zara - gives the stores newness and helps create excitement.
He said: “Two years ago, I gave my staff a brief to sex up the business and now the brief is to bring excitement to it too.”
Reiss said the change will allow the retailer to capitalise on customer demand for must-have items, and increase the “buzz” around stores.
Core products in the range such as tailoring and coats will have a longer shelf life than the new six-week lead time. Reiss also intends to make the retailer’s offer more accessible by introducing more entry priced items next spring.
Reiss is working with suppliers on how best to deliver shorter lead times, and is looking at bringing some production closer to home in an attempt to be more reactive and to beat issues with fluctuating currency rates.
He said: “My philosophy ever since I started is about relationships and we’re looking to make them stronger with the suppliers we work with. We are also looking at suppliers out there who are much quicker, in places like Turkey and Eastern Europe, but the quality has to be excellent.”
Reiss opened a store in Copenhagen this week and one in Moscow will open its doors next week. The retailer is also considering expanding its presence in Asia and the Middle East.
Reiss said: “We’re opening in Moscow and looking at international markets, so we’ve got to have more entry price-points and the pick-up pieces.”
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