Accessorize news and archive

Monsoon Accessorize to fund fashion scholarships

Fashion retail group Monsoon Accessorize has announced it will fund scholarships for “trailblazing students” on the MA Fashion Futures course at London College of Fashion (LCF) and Central Saint Martins (CSM), University of the Arts London (UAL). The move follows a successful pilot where the retail group supported two students, an LCF MA Fashion...

ManagementFeatured

Monsoon owner plans 22 store openings following administration bounce back

Adena Brands, the parent company of Monsoon, Accessorize and East brands, has announced a “strong performance” for its financial year to August 31, 2022, as it continues to make progress on its turnaround strategy. The group’s sales rose 43 percent to 258 million pounds, with retail sales growing “substantially” at a like-for-like growth of 105...

Report

More Monsoon Accessorize stores saved following successful landlord talks

Monsoon Accessorize is to save 57 more stores than previously expected following successful talks with its landlords over a shift to turnover-based rents. The company’s administrator FRP Advisory now expects to save 157 of the company's 230 stores, and save 2,400 jobs, The Telegraph reports. Those stores are expected to open by the end of July....

Report

Monsoon Accessorize founder: Fewer than 10 Monsoon stores likely to reopen

Monsoon Accessorize founder Peter Simon has said that of the company’s stores that will reopen, only “six to 10” of them will be Monsoon stores. It follows the news last week that the company had appointed retail property specialist Harper Dennis Hobbs to help reopen 100 of its 230-store estate across the UK in time for summer. Simon told BBC...

Report

Monsoon Accessorize hires property experts to help reopen over 100 stores

Monsoon Accessorize has appointed retail property specialist Harper Dennis Hobbs to help reopen 100 of the chain’s stores across the UK “in time for summer”. “Monsoon and Accessorize are both staples of the British high street, and we are delighted to be advising Peter and his team to ensure stores can re-open in the coming weeks,” David Harper,...

Report

Monsoon Accessorize bought out of administration by founder

Monsoon Accessorize has been bought out of administration by its founder Peter Simon through his company Adena Brands Ltd in a move which aims to save 2,300 jobs. The company fell into administration late on Tuesday evening following a period of poor trading caused by Covid-19 and the lockdown of its 230-strong store network. Following a sale...

ManagementFeatured

Monsoon Accessorize mulls sale as Covid-19 takes toll on trading

Monsoon Accessorize has announced its trading has been “badly affected” by Covid-19 and as a result is mulling a potential sale of the business. The company said it had been trading well up until the impact of the coronavirus pandemic took its toll on the industry, indicating that the Company Voluntary Arrangement (CVA) it launched last year...

Report

Landlords extend a lifeline to Monsoon and Accesorize

New York – Monsoon and Accessorize have received a lifeline from its landlords after creditors backed plans to reduce rents on 135 stores at a meeting earlier this week. The fashion chains proposed a Company Voluntary Arrangement (CVA) in late May to help its ailing finances. In a corporate release issued on Wednesday, Paul Allen, chief...

Business

Landlords extend a lifeline to Monsoon and Accesorize

Report

Monsoon seeks rent cuts, says 'currently no plans' for a CVA

British womenswear retailer Monsoon is reportedly asking landlords for rent reductions as it considers “accelerating” store closures. A Monsoon spokesperson told the Mail on Sunday that there were “currently no plans” for a CVA, adding: “The UK retail trading environment is tough and we are continuing to look at options to reduce our overall...

Retail

Accessorize new social tech boosts online conversion by 65 percent

Accessorize has reported a 65 percent customer conversion rate increase online after switching to a new social technology that allows user generated content (UGC) to be collected from social media platforms and displayed as a gallery on its website. The UK retailer is using Curalate’s Fanreel function, where customers’ images posted on Instagram...

Management

Monsoon management to shut down joint Monsoon - Accessorize stores

Media reported over the weekend that British retailer Monsoon Accesorize will close down 141 stores as leases approach expiration – in the coming five years - in a move to decouple the two brands. According to the ‘Guardian’, the retailer has decided to shut down those joint-brand stores, with 141 stores set to be affected. Trying to calm the...