Liberty Retail, which operates the Tudor-style department store on London’s Great Marlborough Street, has been revitalised of late.
The retailer emerged from a store-wide makeover a few years ago as it strives to connect better with its core customers.
Its revamped website has been designed to enhance user experience and increase international exposure, while the technology team continues to work on personalising the shopping experience both in-store and online.
The overarching aim is to extend Liberty’s strong customer experience in-store to the online operation.
Liberty, whose operations cover wholesale as well as retail, has a new private equity owner from July 2019 after Glendower Capital acquired BlueGem’s 40% stake in the business in a deal worth around £300m.
Seriously impacted by the pandemic, which forced the closure of its flagship store for nearly six months of the 2020 financial year (to end-January 2021), Liberty sales slumped 40% to £55.8m, although online sales surged 45% to account for more than half the overall total according to Prospect estimates.
After two years of losses, reflecting increased investment in the business, Liberty returned to the black at the operating level in FY2020.
Innovation rating: 2