Dune is a London-based, specialist footwear and accessories retailer which is positioned in the upper-end of the mass-market footwear market and tries to project itself as a lifestyle brand. The retailer operates around 170 stores globally and provides shipping to more than 90 countries via its website, although coverage has been scaled back of late.

Having invested in IT integration of its international operations, Dune had been aiming to better align its ecommerce proposition to new growth opportunities in markets such as South America, Africa, and Asia. It has also been leveraging partnerships in retail analytics and content delivery to achieve a single view of the customer.

But the retailer has been finding the going tough in recent years, with sales sliding and the business crashing into the red at both the operating and pre-tax level even ahead of the pandemic in FY2019. Meanwhile, total sales slumped 48.7% to £67.6m in the year to January 2021 (FY2020), with losses escalating as demand for footwear and accessories was affected disproportionately because of the requirement to stay at home for long periods and lockdowns impacting the entire business. 

In February 2021, Dune joined the growing list of retailers to turn to a Company Voluntary Agreement (CVA) in a bid to restructure the business in response to the pandemic. This has moved the majority of its stores onto a turnover-based rent model. 

Founder Daniel Rubin has taken the helm again as CEO from March 2020 to navigate the business through its current problems.  

 

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