British clothing retailer Boden has acknowledged that cutting back on the retailer’s much loved catalogue had been a fatal error.
The boss of Boden has promised to revamp the business after admitting to a “catalogue of mistakes” that pushed the fashion retailer to a significant loss. The overhaul, which will coincide with its upcoming Autumn/Winter 23 collection, will see the fashion retailer revive its famous catalogue and axe its struggling menswear division.
It comes after the fashion retailer plunged to a £4.4m loss last year, compared to a profit of £22m in 2021. Sales slipped 2% to £350m in the period, with customer numbers also down 5% to 1.8 million. Johnnie Boden told The Times: “We forgot who we were. We changed the product too much. We went a bit too young and we upset lots of customers.” He admitted that cutting back on the retailer’s much-loved catalogue had also been a fatal error: “We knew we had to cut back distribution because digital was the future, but we cut back too much.”
Boden said he was “pretty confident” the retailer will get back on its feet: “These things happen.
Read the full article on The Times website.