John Hannah, acting managing director of Select since Turkish supplier Cafer Mahiroglu bought 125 stores out of administration in February, said it aims for sales of£50 million by next February.
Select collapsed with 250 stores in January this year. Since then, Hannah has drafted in Paul Boxall, a former senior Arcadia buyer, as head of retail, along with 15 buyers and merchandisers.
Hannah said the fascia or signage would change and the retailer is mooting a possible new name or a play on the name Select. “We want to be seen as a fashion multiple not a value player,” he said.
Retail Knowledge Bank senior partner Robert Clark said Select will have to tread very carefully. “The sales target is ambitious; in the short to medium-term arguably over-ambitious,” he warned.
While he understands Select’s decision to reposition, the fast fashion market is “equally as overcrowded” as the value sector it is trying to leave behind, he added.
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