All Reiss articles
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NewsReiss launches partnership with McLaren Formula 1 team
Fashion retailer Reiss has signed with the McLaren Racing Formula 1 team to be its “official travel wear partner” in a new multi-year deal.
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Analysis
Glad rags, stores surge and flight to value – how fashion retailers fared this Christmas
As the Christmas reporting season comes to a close, a return to in-store shopping in the post-pandemic world, freezing temperatures and the impact of the cost-of-living crisis delivered a range of results for fashion retailers over the period.
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News
Reiss expects record profit after strong Christmas
Fashion retailer Reiss has reported strong Christmas trading as sales surged in stores and online.
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Analysis
Analysis: Can Battersea power London’s retail revival?
With the long-awaited opening of the Battersea Power Station redevelopment set for next week, Retail Week revisits this feature from June which looked at whether its opening could supercharge the capital’s post-pandemic retail revival?
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News
Reiss swings into the black with record profits and sales
Reiss has reported record sales and profits for the year to January 2022, despite its stores being closed for the first 10 weeks of the year
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Analysis
Retail 100: Three lessons from the sector’s most inspiring leaders
The 17th annual Retail 100 is a celebration of the individuals transforming the sector, disrupting traditional retail models and being a voice for the industry. Retail Week explores some common trends shared by the leaders featured
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Data
Data: The 15 most improved retailers for gender pay equality 2022
Retail Week ranks the top-performing and most improved retailers for gender pay equality this year.
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News
Reiss overhauls online fulfilment offer as it launches on Next Total Platform
Reiss has ramped up its online fulfilment proposition and relaunched its website in a bid to drive ecommerce sales.
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News
Reiss eyes recovery after swinging to loss amid pandemic
Reiss has said it expects to “return to profit” in its current financial year after falling into the red during 2020.
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News
Next boss Lord Wolfson set to chair Reiss
Lord Wolfson is set to be the next chair of Reiss, following Next’s purchase of a 25% stake in the retailer earlier this year.
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Prospect Analysis
Reiss (Strategy)
With the retailer’s private equity owner Warburg Pincus having put the planned sale of the business on hold as the Covid-19 pandemic hit in 2020, in March 2021, Reiss agreed a long-term strategic partnership with Next. This has seen the fashion giant reportedly taking a 51% majority stake in Reiss.
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Prospect Analysis
Stores at Reiss
While the earlier turnaround programme focused on closing marginal stores to restore financial health to the business, the opening of high-profile outlets in key locations has remained a key part of the forward strategy given the aspirational nature of the brand.
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Prospect Analysis
Technology strategy at Reiss
As part of a long-term strategic partnership with Next from March 2021, Reiss transferred its online platform, warehouse, distribution and logistics to the Next Total Platform from early 2022, making use of Next’s extensive infrastructure capabilities to aid its future growth in the UK and overseas.
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Prospect Analysis
Reiss (SWOT)
Reiss enjoys a profile significantly higher than its domestic network of just over 100 standalone stores and concessions might imply and is also growing internationally, driven by its strategic partnership with Next from 2021.
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Prospect Analysis
Reiss (People)
Reiss continues to have its own board of directors headquartered in London under the leadership of chief executive Christos Angelides following the acquisition of a 25% stake in the business by Next from early 2021. Announcing the partnership in March, it was stressed that Reiss would ‘retain its management autonomy and creative independence’.
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Prospect Analysis
Reiss (Overview)
Reiss has entered into a long-term strategic partnership with Next, which reportedly increased its 25% stake in the premium fashion brand to 51% in April 2022. Reiss transferred its online platform, warehouse, distribution and logistics to the Next Total Platform in early 2022, making use of Next’s extensive infrastructure capabilities to aid its future growth in the UK and overseas.
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Prospect Analysis
Reiss (Financials)
In a trading update for the 2021 financial year to end-January 2022 (FY2021), Reiss reported record sales and profits with group sales up 50.3% year on year to £256.6m. Pre-tax profits after exceptional items came in at £34.4m in FY2021, from a loss of £13.6m the previous year. International sales accounted for almost a third (more than 30%) of total group sales while online took close to a 50% share of total group sales.
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Prospect Analysis
Ecommerce at Reiss
As part of a long-term, strategic partnership with Next, Reiss has transferred its online platform, warehouse, distribution and logistics to the Next Total Platform from early 2022.
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Prospect Analysis
Customer and marketing at Reiss
A strong product offer sits at the heart of the Reiss brand strategy and the retailer strives to embody its namesake founder David Reiss’s belief in timelessness rather than fast fashion. CEO Christos Angelides has refreshed the brand since taking the helm and continues to focus on full-price sales, driven by strong design, styling and quality, after excessive discounting led to margin erosion in the past.
