Hobbs to tap younger market in brand rejig

Dulieu said Hobbs will evolve its brand and positioning to become a retailer for mothers and daughters and introduce an edgier fashion element.

The upmarket retailer’s ranges will be re-energised under the leadership of creative director Sandy Verdon, who is credited with reviving Jaeger’s fortunes.

In spring/summer next year, Hobbs will launch a refreshed fashion offer, including its first spring/summer Limited Edition collection, to help regain market share. In autumn, it will debut a range to attract the 20- 30-something daughter demographic.

“We are working out how to re-establish the brand principles,” said Dulieu. The decision will bring “affluent young people to Hobbs at an early age”, she said.

She added that Hobbs has built up a “phenomenal portfolio of stores” since private equity backers 3i acquired a majority stake in the business in 2004. Dulieu, who took the helm following chief executive Nick Samuel’s decision to step down, now intends to focus on the brand and product.

Dulieu said Hobbs is well placed to ride out the downturn thanks to stringent cost-cutting during the boom time, ensuring Hobbs entered the downturn with low debt, a low cost base and robust EBITDA margin.

Hobbs, which achieved low single-digit sales growth in August, will not cut recruitment, training or marketing. “I will not let them be touched,” said Dulieu.

“I don’t think it is the worst retail period we have seen,” she added. “You can’t ignore the situation and hope you will get through it. You have to ask: ‘What can I do to be more appealing?’”