Retail Theory and Practice

RETAIL THEORY AND
PRACTICE

Contents
INTRODUCTION...........................................................................................................................3
Key relevant changes in the UK fashion retail............................................................................3
Changes in micro environment....................................................................................................5
Strategies and tactics....................................................................................................................6
Recommendations........................................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
The field of retail includes departmental stores, chain stores, variety stores, franchise
stores, online merchants, and door-to-door sellers. Retail stores buy their goods from
wholesalers, stock the goods, and resell them to individual consumers in small quantities.
Fashion retailing is that aspect of business that works as a intermediary between the
manufacturers and customers. The working procedure of this industry is to buy the goods from
manufacturers and sell it to the consumers. Initial purchase is taken by the retailers in order to
resale the goods between three to six months and provide it in their store to the consumers. This
sector of retail focuses on specializing the recent and upcoming trends in fashion and insights are
taken from the business and the people who are working in the fashion sector so that
expectations of people can be met and companies can survive in the market for a long period of
time.
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 women’s wear, menswear, and clothing for teens.
The company was founded in 1969 in Taunton Somerset. Since then they have expanded their
operations with a chain of more than 900 stores on an international level which includes many
countries such as South Korea, United Arab Emirates, Republic of Ireland etc. Company has
employed more than 18,000 people and the revenue of the company is around £ 1,147 million
which covers a profit of approximately £ 180 million. It used to be owned by equity groups
which were private which was Apax Partners and Permira. The company was founded by Tom
Singh but in 2015 it was acquired by Brait SA. Other than this in order to manage their current
platforms online efficiently and effectively they have partnered up with ASOS so that they can
enhance the experience of users and encourage the consumers to buy more goods online. The
company is working on changing its methods in order to achieve growth in the market. Also they
are looking to working with energy efficient resources so that they can work with the betterment
of the environment.
Key relevant changes in the UK fashion retail
PESTLE Analysis
Political factors-