The Bonmarché boss has worked at some of the world’s largest clothing businesses but her biggest success could be a float of the fashion retailer.

Beth Butterwick

Bonmarché’s glamorous boss Beth Butterwick might be kicking off her favourite shoes to celebrate this weekend after staging a rapid turnaround of the fashion retailer, which has paved the way for a float on AIM this month.

The listing comes less than two years after Bonmarché was put into administration in January 2012 along with its sister value fashion chain Peacocks, which was debt-laden and had over-expanded in the boom years before the recession.

Butterwick had joined Bonmarché - moving back to the UK after living in Amsterdam while she worked at fashion retailer MS Mode - just months before as its brand director and was brought in to internationalise the retailer.

But when Sun European bought Bonmarché in a pre-pack deal in the month it collapsed, Butterwick was promoted to lead the turnaround.

It looks as though the turnaround has been a success. When Bonmarché lists on the AIM later this month it
is estimated to be valued at more than £100m.

It follows a strong year’s trading for the 264-store retailer, which posted EBITDA before exceptionals of £9.1m on sales of £146.8m in the 12 months to March 30 - the first full year since emerging from administration. In the first half of the current year to September 28 like-for-likes surged 12.7%.

It has been an eventful two years for Butterwick but she has thrived on the challenge. “I’m so lucky, I love my job.

It’s a great business,” Butterwick told Retail Week earlier this year.

A self-confessed perfectionist, Butterwick had a clear strategy for the retailer. She refocused Bonmarché’s product to cater for its core over-50s female customer, moving away from the previous management’s decision to target younger shoppers. It is this unique selling point that has allowed Bonmarché to thrive.

Despite being younger than the retailer’s target audience, the 48 year old is regularly seen sporting pieces from Bonmarché’s collection, particularly after recently introducing a size 10 to the retailer for the first time, although it is shoes that are her real passion.

Butterwick, who is married with two children, has a first-class retail pedigree. Like many retail bosses, she started her career at Marks & Spencer, working her way up to head of buying where she refined her eye for product. After 16 years she moved from the British retail stalwart to a US one, Gap Inc, before moving to Gap Europe as vice-president.

At Gap she helped build management teams and develop new product categories, and during her tenure Gap Europe won awards for its childrenswear and baby offer.

She cites Tony DeNunzio, the well-regarded non-executive chairman of Pets at Home and former Asda boss, as the person she has learned the most from in her career while she worked at MS Mode. “He is a truly inspirational leader,” she said last year. “This skill, without a doubt, drives success in the workplace.”

Butterwick’s career across a range of retailers means she has picked up skills and ideas that she has utilised at Bonmarché, such as changing the store windows every two to three weeks and injecting more newness into the business.

Further advancing Bonmarché’s multichannel offer is the next challenge for Butterwick, who has already opened the website up to global customers and introduced iPads in store and click-and-collect.

“I’m convinced that after the next five years customers won’t be able to remember how they bought an item because the experience will have been so seamless,” she said this year.

The customer is key for Butterwick, who is acutely aware of the appeal Bonmarché generates among its fiercely loyal shoppers.

If Butterwick can win over City investors as she has her customers and Bonmarché’s owner, she will surely be a shoo-in for Square Mile success.

Career history

2011 to present Bonmarché, latterly chief executive

2009 to 2011 MS Mode, commercial director

2005 to 2008 Gap, various roles, latterly Europe vice-president for women’s and accessories

1989 to 2005 Marks & Spencer, latterly head of buying