After much speculation New Look’s intention to float has now been confirmed and after the deflation of the failed float in 2007 it looks like the fashion group will finally have its day.
The news comes as it prepares to open its second store on Oxford Street tomorrow in the former Borders site putting it now in two key locations on the street within spitting distance of both Primark’s and Topshop’s Oxford Circus flagships.
New Look has been on a enormous growth drive in the last few years and its key growth story remains its international ambitions which it hopes will pit it against international rivals such as Inditex and H&M.
Walk in to some New Look stores, particularly its larger flagships, and you can see that it really does stand strong against its larger, more dominant rivals. It has a great supply chain and knows inherently how to work fast fashion. Its shoe offer has become a category killer, and it could certainly be argued that it has driven some specialist footwear players off the high street with its affordable, fashionable and broad ranges.
The main problem it has, however, as it moves into the critical eye of the City is consistency.
Although its larger stores are impressive some of its smaller, more marginal shops tell a different story. Without the breadth of offer, often its smaller stores look less exciting and are often less fashionable. There have been some rave reviews about New Look’s Spring collection but the strength of its offer needs to be showcased across its whole portfolio, whatever size the store.
H&M this week revealed a new organic range which looks very strong and fashion forward, as with its designer collaborations, and it is likely to draw shoppers through its doors.
New Look was one of the pioneers of celebrity collaboration with its Lilly Allen tie up but it needs to keep breaking new ground to make sure it can really stand shoulder to shoulder with its global counterparts.
The new flagship - which will bring it to the attention of even more international shoppers who flock to the capital - will be a real chance for New Look to cement its position on the global stage and excite consumers about its determined global plans.
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