23 minute read
CRISIS TALKS How indies can use what they learned during the pandemic to weather the cost of living crisis
Down to Business
INSIGHT FOR FASHION INDIES
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Perfect planning
If there’s one thing fashion indies learned from the pandemic, it’s how to advert a crisis. And according to haysmacintyre’s Natasha Frangos, retailers might need to put those skills in place yet again to make it through what are expected to be some more challenging months ahead…
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Crisis adverted
AS THE NATION GRAPPLES WITH THE RISING COST OF LIVING, HAYSMACINTYRE’S NATASHA FRANGOS REVEALS HOW INDIES CAN USE WHAT THEY LEARNED DURING THE PANDEMIC TO WEATHER THE STORM
While the fashion industry has started to take its first tentative steps towards recovery after the pandemic, ongoing disruptions, increasing cost of living and a spiralling economy are threatening to erode progress. Business uncertainty is at an all-time high and customer demand and spending are hanging in the balance. So, is all hope lost?
Despite uncertainty casting a dark cloud over retailers’ outlooks, lessons learned and measures put in place to aid recovery during and after the pandemic are still relevant in today’s climate. If anything, the resilience built and changes made during the first lockdowns should hold indies in good stead for crises to come.
Independent retailers will each have their own survival tactics based on the nature of their business, but there are some underlying tools that might be helpful as brands weather the storm and consumers think twice about how and what they spend.
Staying true to your brand
Remaining visible and standing out from competition to win and retain customers remains vital for today’s retailers. Consumers want to buy from brands that are true to themselves and the reasons they were created. Consumers are becoming ever wiser to performative activism and practices such as greenwashing are going to erode trust. Brands can no longer package their goods as ‘sustainable’ without being able to show the relevant steps in their production chain. Following through on promises might sound simple, but it really is the best way businesses can continue to encourage long-term custom and loyalty.
Caution and agility
As industry costs continue to spiral, another tool in the fashion indie’s wheelhouse will be to plan all spending carefully. It is increasingly important to not overcommit, whether that is to stock levels, collection sizes or rent. The saying “cash is king” never gets old and having a clear view of cash flow forecast and headroom will enable businesses to make informed decisions about where and how they spend to obtain the maximum return and operational benefit.
In fact, some retailers have found success in stripping their edits back to a small number of core pieces that they know will sell (knowing their target customer), rather than risk large collections not selling and being left with excess stock they can’t shift.
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Storing stock is also expensive and brands may want to consider only ordering in what they absolutely need, so keeping a close eye on consumer behaviour is key. But this has to be finely balanced with the challenging delays that continue to be experienced in importing goods.
Another key challenge continues to be increased shipping costs, especially when retailers buy stock from overseas. High costs may make it more cost-effective for businesses to look into local producers and distributors, although this does come with a number of further factors for consideration, such as ensuring that local operations are in line with the retailer’s quality and values.
Online or in-store?
Having to shut up shop over the pandemic has accelerated reliance on online shopping, with most fashion indies now operating with a joint online and physical presence.
While a pure-play e-commerce model would undoubtedly cut rent and energy costs – especially now there are a host of channels to sell online - there is still high value in bricks-and-mortar. A physical store provides an important touch point for customers – and that’s especially important now that a deeper understanding of consumer behaviour is required for making strategic decisions. What’s more, it also builds connectivity.
Customer service also remains a key differentiating factor for indies and well trained, quality staff encourage engagement and loyalty. But as the war for talent continues, independent retailers have another challenge to hire and retain the best talent who live and breathe the brand. Indies will need to seriously consider the competitiveness of their offer to employees and prospective employees to ensure they remain a great place to work.
Try before you buy
Boutiques looking to expand into new markets could also consider looking into short-term leases to ensure they are not tied in to rent for a long period. A further alternative for testing the water is to try using the pop-up shop model to see whether an area is viable before committing to a long lease. As well as allowing businesses to scope out an area, pop-ups can also be a useful marketing tool for building up hype around a brand.
There is also potential to take an experiential approach, such as using technology and immersive experiences, to elevate a boutique’s physical offering for consumers. This has the added benefit of creating buzz about the brand and can often lead to success on social media.
Key lessons
If independent retailers have learned anything over the course of the pandemic, it’s that a flexible approach to business is key. With this in mind, indies should have a strategy while also keeping in mind that we are living in times where change can happen very quickly. As such businesses should operate with some agility built into their plan, with a clear view of their cash headroom, giving some breathing room in case things go wrong.
Resilience, careful planning and staying true to the brand and connected to consumers are all key for retailers that want to succeed in these uncertain times.
Natasha Frangos is partner and head of corporate at London accountancy firm Haysmacintyre. She specialises in advising ambitious, scaling businesses operating in UK and globally in the creative, media and technology industries.
Showing at Joanna Edwards Agency
London showroom: 17th July - 29th July Manchester showroom: 14th August - 18th August T: 07512 550 346 E: Joannaedwardsagency@gmail.com
Shop Talk
BISCUIT CLOTHING AND LIVING
INDUSTRY OPINION
Retail success
Operating three successful stores and a thriving e-commerce business, premium indie group Biscuit Clothing and Living has discovered a winning formula. We speak to owner Amanda Mitchell to uncover some of the secrets to her success…
Take the Biscuit
FOUNDED BY FORMER FASHION BUYER AMANDA MITCHELL, SCOTTISH INDIE GROUP BISCUIT CLOTHING AND LIVING IS INSPIRING SHOPPERS WITH ITS ECLECTIC MIX OF PREMIUM WOMENSWEAR AND LIFESTYLE FINDS
“My aim is to provide a welcoming space where women can find a top for a dinner party and present for the host,” says Amanda Mitchell, owner of indie retail group Biscuit Clothing and Living.
Since opening on Edinburgh’s Thistle Street in 2015, the business has grown into a three-store enterprise with a lucrative e-commerce operation. With former department store buyer Amanda at the helm, it offers a unique seasonal product edit of high-end womenswear brands mixed with chic homewares, stationery and apothecary.
Despite its rapid growth, its formula hasn’t changed since the beginning: “Everything in Biscuit, even down to its name, feels very inviting,” says Amanda. “My concept was also always about offering more than clothes. Around 20 per cent of the business is gifts and homewares, so customers can pick up a card or a blanket alongside a new dress or jumper.”
Retail history
Amanda’s great great grandfather Frank Bentall founded famous Surrey department store Bentalls in 1867 – so you could say that retail is in her blood. After completing a fashion degree in the early 1990s, she began working for a concession in London’s Harvey Nichols where she learned about running a retail business from the shop floor. In 1994 she then moved to Bentalls, eventually becoming womenswear buyer and reshaping its entire fashion offer.
But after starting a family, Amanda relocated to Edinburgh and took a brief break from buying. When her youngest turned two, she began knitting jumpers at her kitchen table and selling them online. And when the head of a costume department discovered her work by chance, she was asked to knit pieces for an impressive list of children’s blockbuster films: “We knitted for Harry Potter, Dennis the Menace and Nanny McPhee,” she says. “Unfortunately, because everything was hand knitted and painstaking to make, it wasn’t particularly profitable as a long-term career option. It
provided me with an interest while my children were babies, but if I’m honest it only really kept them in new shoes and haircuts.”
In the interim, Amanda spotted a gap in the market for a boutique in Edinburgh stocking the brands she liked to wear and the idea for Biscuit was born. “I realised that if no one else was going to do it there was a chance for me to start a new business,” she says. “At that time there was Harvey Nichols and Jigsaw in Edinburgh but nothing in-between for discerning womenswear. So, I picked up the phone and spoke to agents I hadn’t been in touch with since the 1990s. Luckily, most of them were still the same so they already knew me and my track record.”
Independent woman
Amanda opened the first boutique in a prime location for independents, just a 10-minute walk away from Edinburgh Waverley station. A second followed in the city’s more residential area of Bruntsfield Place in 2017, finally followed by a third in Glasgow during the pandemic. The bricks-and-mortar stores are complemented by a thriving online business, which currently brings in just under a third of the group’s overall revenue.
“I think a big part of Biscuit’s success is where the stores are situated,” says Amanda. “Particularly in Glasgow and Bruntsfield Place, as we pick up the school runs both in the morning and afternoon. We’re also surrounded by other amazing indies from butchers and green grocers to florists. There’s been a real demise of the department store, but people can come to one destination and get everything they want and need.”
Key labels stocked by the retailer include American Vintage, Ba&sh, Part Two and “lovely entry level brand” Bellerose. It also carries Scotch and Soda, Air and Grace, Lily and Lionel, Primrose Park, POM Amsterdam, YaYa, Second Female, Stella Nova and Stine Goya.
For SS22 Amanda has introduced Cras from Copenhagen, which has been a big hit with shoppers. She also received a strong reaction to dresses from Danish label Dea Kudibal. “We do very well with dresses especially,” says Amanda. “I’m a huge advocate of a great dress for simple and easy dressing. We’re often told we do the best range of dresses and I try to include something for everyone.”
Appealing aesthetics
Another factor in Biscuit’s appeal is the way its stores are merchandised. While buying Amanda carefully curates a unique edit encompassing womenswear, homewares and beauty products. “When I buy I think about how everything will look together instore,” she says. “It helps if I visualise everything together as one edit, so I’ll think about colours, textures and fabrics and how they’ll sit alongside each other.”
For AW22, Amanda says Biscuit’s aesthetic is based on a country house with lots of tweed, mixed fabrics, velvets and Prince of Wales checks. She selected the season’s womenswear at the beginning of the year and has now begun to complete the process by choosing the home and living products.
While the owner visits trade shows every season including Scoop, CIFF and Who’s Next, she says most of her inspiration for buying comes from “just wondering around”. She explains: “You have to be ahead of what everyone else is doing, looking beyond the shows to find new labels. It’s getting harder to find different brands, especially after the pandemic, but you can’t be complacent as a retailer and you need to be one step ahead.”
For this reason, Amanda particularly struggled to buy during the pandemic when it was impossible to travel or see physical collections. “I found it really hard to make my selections during the lockdowns,” she says. “It’s almost impossible to buy through Zoom and just seeing your own shop day in and day out is very uninspiring.”
Business growth
Aside from her challenges in selecting new products, Amanda says the business was extremely lucky during the pandemic as it already had online channels in place. Since the start of 2020, Biscuit’s e-commerce share has grown from 5-10 per cent to an impressive 30 per cent of the business. Sales are so strong that the owner has taken on an expanded team and new head office to cope with demand. The boutique also sells through Atterley and Trouva, with the majority of online customers residing in the southeast of England. “Online sales were mammoth during the lockdowns and were such a saving grace for the business,” she says. “Even now our website does extremely well and we use the marketplaces for our online marketing.”
Biscuit’s third store also opened in the middle of the pandemic, which Amanda admits was unfortunate timing. However, it had been in the planning for several years, so calling off the opening wasn’t an option. “I had already signed the lease before the pandemic hit and the landlord was very understanding, so we could have backed out,’ she says. “But I was really confident about what we could do in Glasgow and I’m really pleased now that I went ahead.”
Located in the city’s leafy west end known for its quirky lanes and indie retail scene, Biscuit’s Glasgow boutique was an instant hit with the area’s locals. In fact, it’s been so successful that Amanda says, “it’s already biting at the heels of our most successful store on Bruntsfield Place.”
A digital future
Now with three profitable bricksand-mortar shops, Amanda’s sights are set on re-marketing and growing Biscuit’s online operation. There has been a slight spanner in the works after the group’s Instagram account was hacked and subsequently deleted. However, the owner has already set up another page and is determined to bounce back better than ever. “As has been recently proven with us losing 15,000 followers on social media, you have to be resilient as an independent business,” she says. “Retailing is in my DNA but running a shop is so much more than that. The future is bright as we push online sales by improving and growing the team behind it. We move to a new site in September, hopefully just before the season kicks in, and so we are ready for whatever life throws at us then.” She concludes: “As to the years ahead, who knows? But what I do know is that not a lot stops me. My passion in retail will always push me to aim higher.”
Summer travels
AINO FINLAND OFFERS SUSTAINABLE AND STYLISH WOMENSWEAR IN AN INCLUSIVE SIZE RANGE
Available in the UK via Joanna Edwards Agency, Nordic label Aino Finland produces sustainable womenswear in stylish and wearable shapes. The brand was born in 1991 with a focus on natural and ecological fabrics in stunning vibrant prints. Its collection is exported to 20 countries worldwide and it commands a growing network of stockists around the globe. Offering a comprehensive size range from S-XXL, its design team’s use of detail and soft lines flatter the wearer while bringing fun and happiness to everyday wardrobes. Its latest collection is inspired by longing and evokes memories of Finland's sparkling lakes, Mediterranean small towns, French lavender fields, the sea in Capri, carnivals and amusement parks. Expect an eclectic colour palette of soft and hazy tones through to bright strong hues. Key pieces include printed viscose crepe separates, its Monte top and pants as well as its cotton jacquard Caramella jacket, which looks great styled with its plain linens. Wholesale prices range from €49-€69 for tops and tunics to €100-€145 for spring coats while the minimum order requirement is €2,500.
CONTACT:Tel: 07512 550 346 / 0035 8400 430 013 E: joannaedwardsagency@gmail.com aino.net
Jewel purpose
ENHANCE YOUR ACCESSORIES LINE-UP THIS SEASON WITH SUSTAINABLE JEWELLERY LABEL JIANHUI LONDON
Jewellery designer Jianhui Yan has been creating versatile sustainable fashion accessories from recycled materials for more than a decade. His handcrafted artistic pieces are loved by style icons such as Iris Apfel and Lily Tomlin as well as prestigious institutions such as the Museum of Arts and Designs in NYC. Ever since the beginning, Jianhui has believed that sustainability is a lifestyle choice rather than a fleeting trend. His recycled leather collection won an NY Now sustainability award in 2020 while his latest eco-friendly collection, which is made entirely by hand from recycled plastic bottles and newspapers, has been heralded by industry insiders for its unique beauty. The designer’s eponymous collection Jianhui London is available for independent retailers to stock in the UK. The range comprises unique handmade necklaces, bracelets, earrings, brooches and bags crafted in recycled materials. Standout pieces are made from repurposed plastic bottles, newspapers, wooden pallets and leather. Wholesale prices are around £30 per piece on average while the minimum order requirement is £400.
CONTACT:Tel: 07940 284 240/ 07512 550 346 E: joannaedwardsagency@gmail.com jianhui.london
Elemente Clemente celebrates its 20th anniversary this season including a best of special linen edition
Anokhi Collection: New to the UK for SS23 will be showcasing their jacquard and leather bags at Pure London
SHOWING: 46 Great Titchfield Street, London (16-29 July), Just Around the Corner, Manchester (2-3 August) and London (7-9 August), Elliot House, Deansgate Chambers, Manchester (14-18 August), Pure London (Anokhi only) CONTACT: Tel: 0049 172 819 7007 | E: ariane-kaiser@outlook.com www.elemente-clemente.de | www.knitknit.eu www.rubicon-fashion.de | www.anokhi-collection.com
PHOTO BY ANDREJ LIŠAKOV ON UNSPLASH
ANDREW GOODACRE, CEO AT BIRA, ON STAYING ONE STEP AHEAD OF BUYING TRENDS
“I have never aspired to be a buyer. Firstly, because I am not a very good negotiator (just ask my wife, as she has to take over this role in our household). Secondly - and more importantly - because I would find it incredibly difficult to predict what customers will be looking for so far ahead, especially in the world of fashion. Over the years there have been plenty of high-profile examples of large chains getting it wrong. For instance, Marks and Spencer always seemed to be in the headlines for making poor buying decisions with its clothing ranges, culminating in significant loss of sales.
“The advantage small boutiques have is that they do not need to work on such long lead times and can be more flexible. However, that is not to say it is easy and without issues. For any business, having cash tied up in stock not selling is a real problem, especially in today’s economic climate. For fashion retailers this is even more acute as the season is a finite period of time, putting even more pressure on getting the buying correct.
“Recognising the challenge of fashion buying is why Bira has partnered with FAIRE – an online wholesaler connecting quality diverse brands with indies. It may not be suitable for all your purchases, but it is worth checking out as it is a clear ‘direction of travel’ for purchasing across all retail sectors
“Obviously, there’s a lot of choice and buyers are invariably influenced by brands. It is equally important to take notice of consumer trends. All the research and commentary I have seen recently is re-enforcing the drive to sustainability. The so called ‘climate changers’ are behind the growth of green activism and the change of lifestyles in line with the escalation of the climate crisis. This drive for a net-zero economy challenges retailers to offer products that are carbon footprint certified, as well as offering more transparency in their production to aid customers in making informed purchase decisions. Given that fashion has one of the largest carbon footprints in the retailer sector, finding sustainable alternatives is not always easy and buyers have to be very wary of green washing. Ultimately, sustainability will continue to form a key part of the consumer decision making process, so all retail must address this challenge as it moves forward.
“One of the speakers at a conference I recently attended talked about consumers putting inclusion and acceptance at the forefront of their spending habits. This consumer group values their personal happiness and wants to feel comfortable in their own skin with products that make them feel good about themselves. In my view this trend is ideal for small boutiques who can maintain real engagement – helping customers feel good about themselves is something boutiques do much better than multiples. Obviously, the buying strategy needs to reflect this trend as well.
“Today’s fashion buyer needs to have very strong analytical, organisational and interpersonal skills. But above all else, they need to have a keen eye for style. It is about predicting the future and staying one step ahead of what’s popular and influencing trends. If you can do all of this and run a small shop, you deserve to be successful.”
SHOWROOM DATES: London showroom:
17th-29th July; Noho Studios, 46 Great Titchfield St, London, W1W 7QA
Manchester showroom:
14th-18th August; Elliot House, 151 Deansgate, Manchester M3 3WD
Joanna Edwards Agency www.joannaedwardsagency.co.uk 07989014141 / 07512550346 joannaedwardsagency@gmail.com
BOUTIQUE STAR AWARDS 2019
HARI KRISHNADASAN, MD AT CAPRI LONDON, ON ENTERING THE BOUTIQUE STAR AWARDS 2022
“H aving won Distributor of the Year in 2019 at the first and last Boutique Star Awards that took place due to covid, I can still remember the evening as if it were yesterday. My wife Puja and I were joined by Andy, our head of operations, and Issy, our print assistant. As we all sat at our table at rooftop venue The Deck inside London’s National Theatre, we hadn’t been expecting to be shortlisted - let alone win.
“So when it was time to find out the winner of the Distributor of the Year category and we heard “Capri Clothing” announced, we were all dumbstruck for a few seconds. Everyone on our table looked at each other as if to confirm we had all heard the same thing. Gemma and Julie from Boutique magazine were both looking at us and clapping - then it hit home: we had actually won!
“As Capri Clothing was called out, applause and cheer filled the room and we slowly got up and walked to the stage - almost on autopilot - to collect our award. I had to do a speech, which I had to wing on stage as I didn’t think we’d win. There were flashing lights from photographers not to mention the spotlights on stage. Even now I can’t help but smile every time I see the pictures.
“I can vouch for the power of entering an industry competition and the business benefits it brings whether you’re nominated or short-listed - let alone selected as the winner. It’s a strong indicator of trustworthiness among current and prospective customers. Successful businesses like to work with other successful businesses.
“The recognition we received after being short-listed - not only from all our staff, salespeople and contractors, but also our peer group - positioned us favourably. It reinforces the true value and skill we bring to our profession and sector.
“Business owners in our industry don’t take the time to reward ourselves nor receive any recognition as it’s often a constant cycle from one season to the next without time to pause and reflect. We all deserve recognition for the effort we put in and the Boutique Star Awards did a great job in highlighting and recognising this.
“Recognition at the awards ceremony gave an immediate morale boost to people who work with us and a focus for their purpose at work. Knowing that each and every one of us had contributed to winning an award is a great motivator and something to shout about and show off.
“The brand awareness the awards ceremony and winning the award gave Capri highly valuable publicity before, during and after the event through emails, social media and the magazine itself. To help build trust and awareness with our target audience, we were given the opportunity to use the awards branding on our website, marketing material and email signatures. "Entering and winning business awards demonstrates to both existing and prospective customers that our business is at the top of its game, reinforcing their reasons for using us in the first place. It also helps build brand loyalty as customers are always keen to stick with businesses that are perceived to be doing well.
“If you are considering entering your brand or boutique for an award, you should choose the category to best suit your business and its achievements carefully. The process of applying in itself is highly motivating, which we could probably all do with right now amid all the chaos going on in the world.”
Convenience shopping
IMPROVE YOUR BOUTIQUE’S SERVICE WITH CITRUS-LIME’S CLOUD POS CLICK & COLLECT
CONTACT:Tel: 01229 588 628 citruslime.com Enabling your customers to buy from you any time day or night is a great way to increase sales - and that’s what your website is for. Having a click-andcollect service integrated into your e-commerce site is a convenient tool for shoppers who are short of time. Click and collect allows customers to pick up purchases when it suits them, so they don’t have to wait in for items to be delivered.
Citrus-Lime’s Cloud POS Click & Collect is built-in to its Ecommerce platform. It offers customers the option of collecting their purchases in a way that fits around their lives and is simple to use.
Not only that, but it also provides a great way of showing customers what you have in stock as soon as they start browsing your online store. Because it’s linked to your inventory, Cloud POS Click & Collect will display your product lines availability straight away, so you never disappoint. If you’re a boutique group with more than one store, customers need only enter their postcode and Cloud POS Click & Collect will let them know where your stock is available and when.
Boutique Star Awards 2022
Date:
8th November Venue:
The Mayfair Hotel London
Welcome drinks and canapes 3 course dinner with wine awards ceremony and DJ after party Tickets £150
Ticket info contact: Julie@bpmedialtd.co.uk Entry info visit: Submit an Entry » Boutique Magazine (boutique-magazine.co.uk)
