New Look (company)

  (Redirected from New Look (store))

New Look is a British global fashion retailer with a chain of high street shops. It was founded in 1969 and has been owned since May 2015 by investment company Brait SA, controlled by Christo Wiese. The chain sells womenswear, menswear, and clothing for teens.

New Look Retailers Ltd
Private Limited Company
IndustryRetail
Founded1969; 51 years ago (1969)
Taunton, Somerset,
UK
FounderTom Singh
Headquarters
Weymouth, Dorset, United Kingdom: (Corporate Services)
London, United Kingdom: (Creative, Digital and Productive departments)
Number of locations
895 approx. (2018)[1]
Area served
Worldwide
Key people
Paul Gilbert - Non-Executive Director[2],

- CFO[2],

- Executive Chairman[2],

Chief Product Officer[2]
ProductsClothing
RevenueIncrease GBP £1,528 million (2014)[3]
Increase GBP £805.9 million (2014)[3]
OwnerBrait SA
Websitenewlook.com

HistoryEdit

 
New Look, Pontefract
 
New look in the current branding in Cross Gates, Leeds in 2019.

New Look was founded by Tom Singh in Taunton, Somerset, in 1969.[4] Since then the company has expanded and now operates across a chain of over 900 stores internationally, including Belgium (they opened their first Belgium store in 2006), France, the Netherlands, the Republic of Ireland, Romania, Malta, Malaysia, South Korea, Singapore, Thailand, Indonesia, United Arab Emirates, China, Germany, Russia, Bahrain, Saudi Arabia, Azerbaijan and Poland, and a staff of over 18,000.[citation needed] The group had a turnover of £1,147 million in 2008 with profits of £180 million.[5]

New Look was owned by private equity groups Apax Partners and Permira, and founder Tom Singh,[6] until May 2015 when it was acquired by Brait SA for £780 million. Brait also owns the health club chain Virgin Active and has a minority stake in Iceland Foods.[7]

In 2004, after six years afloat, the company withdrew from the stock market and was taken back to being a privately owned business by founder Tom Singh and chief executive Phil Wrigley, and private equity investors Permira, Apax Partners and Quillian Investments.

On 26 April 2007, a fire occurred at a New Look branch in Oxford Street, London.[8] The subsequent investigation revealed an extensive catalogue of failings relating to fire safety precautions and measures. The company subsequently pleaded guilty to criminal charges and on 25 November 2009, was fined a total of £400,000 with £136,052 costs.[9]

In 2008, New Look continued their expansion in the UK and opened their largest store at the time in Chicago One Shopping Centre.[citation needed] In February 2009, the company's fortieth anniversary year, New Look opened their first store in Russia.[10]

In 2010, the fines were upheld by the Court of Appeal.[11]

In July 2010, New Look opened their three-hundredth store in Glasgow Fort Shopping Park. The store is 18,000 sq ft (1,700 m2). It was built on the site of a former Borders store.

The largest New Look store in the world opened in Dublin, Ireland on 4 November 2010, located at the Jervis Shopping Centre.[12] It is the twenty-ninth New Look store in Ireland. Many of the outlets in Singapore have been closed, except CityLink Mall, City Square Mall and the latest opened store, Republic Polytechnic. In November 2018, New Look closed ninety stores in the United Kingdom and twelve stores in Indonesia due to poor sales.

Financial dataEdit

Numbers are in millions pounds[13].

Year Revenue Underlying
operating
profit or loss
Net
income
Number
of stores
2018–2019[14] 1 281 3.2 (552.7) 574
2017–2018[15] 1 347 (74.3) (250.6) 895
2016–2017[16] 1 454 97.6 (20.2) 872
2015–2016[17] 1 490 174.7 (34.4) 838
2014–2015[18] 1 414 149.4 49.0 809
2013–2014[19] 1 528 128.5 (53.6) 804
2012–2013[20] 1 484 115.5 15.6 802
2011–2012[21] 1 447 62.7 (38.0) 1099 (with Mim)

See alsoEdit

  • Top Track 100 — list of 100 largest private companies in the United Kingdom, New look is at no 32.

ReferencesEdit

  1. ^ "New Look Retail Group Limited Annual Report 2018" (PDF).
  2. ^ a b c d "New Look Group Leadership Team".
  3. ^ a b "New Look Retail Group Limited Annual Report 2014" (PDF).
  4. ^ "New Look - Our History". Newlookgroup.com. Retrieved 16 December 2017.
  5. ^ Sunday Times Top Track 100, 29 June 2008.
  6. ^ Moulds, Josephine (4 June 2013). "New Look returns to profit". The Guardian. Retrieved 27 October 2014.
  7. ^ Farrell, Sean (15 May 2015). "New Look snapped up by South African tycoon". The Guardian. Retrieved 10 October 2015.
  8. ^ http://news.bbc.co.uk/1/hi/england/london/8379503.stm date=April 2013
  9. ^ "UK high-street firm New Look fined for serious breaches of fire safety | Fire News". TheBigRedGuide. Retrieved 13 October 2013.
  10. ^ "Home". New Look. Retrieved 13 October 2013.
  11. ^ "New Look Retailers Ltd v London Fire & Emergency Planning Authority [2010] EWCA Crim 1268 (16 June 2010)". Bailii.org. Retrieved 13 October 2013.
  12. ^ "Press Release - Biggest New Look Store Launches in Dublin". 24-7pressrelease.com. 5 November 2010. Retrieved 13 October 2013.
  13. ^ https://www.newlookgroup.com/investors/reports-and-publications
  14. ^ https://www.newlookgroup.com/system/files/uploads/financialdocs/fy19-annual-report.pdf
  15. ^ https://www.newlookgroup.com/system/files/uploads/financialdocs/fy18-annual-report-12-06-2018.pdf
  16. ^ https://www.newlookgroup.com/system/files/uploads/financialdocs/fy17-annual-report-06-06-2017.pdf
  17. ^ https://www.newlookgroup.com/system/files/uploads/financialdocs/fy16-annual-report.pdf
  18. ^ https://www.newlookgroup.com/system/files/uploads/financialdocs/new-look-fy15-annual-report-020615.pdf
  19. ^ https://www.newlookgroup.com/system/files/uploads/financialdocs/nl_annual_report_fy14_030614.pdf
  20. ^ https://www.newlookgroup.com/system/files/uploads/financialdocs/annual_report_2013.pdf
  21. ^ https://www.newlookgroup.com/system/files/uploads/financialdocs/newlook_ar2012_0.pdf

External linksEdit

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