Middle-class fashion chain Crew Clothing on the hunt for new spots as it bets on a high street renaissance
Ambitious: Crew Clothing wants to continue expanding with 40 more points of sale
Middle-class fashion chain Crew Clothing is on the hunt for new spots as it bids for a high street renaissance.
It has already opened more than 20 outlets in the last three years, bringing its number of stores to more than 100, mostly in the South, but Chief Executive David Butler wants as many as 40 more. ‘We had no intention of [opening so many shops] but Covid gave us a great opportunity to get the business back on track,’ he said.
Online order data has helped show where the brand is most popular. It has also had some good rental deals from owners ‘nervous’ over the number of empty shops.
‘We take a very different view than most retailers. Starting in April 2020, we decided to very aggressively expand our store equity,” he added.
Crew’s most recent accounts show sales rose 40 per cent to £82.7m last year.
Earnings before interest, taxes and other costs rose 80% to £16m. Demand has remained buoyant this year, Butler said.
Other retailers opening stores include Ikea, which has started opening small outlets on high streets.
He wants to invest £1bn in London over three years.
Also expanding is fitness chain PureGym, which wants to double its number of UK clubs to more than 1,000 by 2030.
