Space NK (Overview)

Space NK is a premium beauty and wellbeing specialist, offering a highly selected range of both well-known luxury and niche innovative brands from all over the world.

The retailer targets the affluent shopper and has focused on securing stores in well-heeled areas with a high proportion of ABC1 shoppers.

Space NK trades through around 70 standalone stores across the UK, including one in Ireland. It also operates around 30 stores in the US, including 10 or so standalone outlets and its remaining presence split across Bloomingdales and Nordstrom concessions.

The retailer had also established a significant multichannel presence in China but permanently shuttered its eight stores in the market in the first half of 2020 to focus on the core business. It continues to serve the Chinese market through the global SpaceNK.com website.

Ecommerce platform development is a key strategic priority as the business focuses on increased personalisation to exploit the accelerated migration of sales online as a result of the pandemic.

As store sales were impacted by enforced closures as a result of the pandemic, overall sales decreased 11% to £111.8m in the year to March 2021 (2020 financial year), with UK sales down 10.6% at £93.1m.

Innovation rating: 2

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