New Look, the South West-headquartered retail chain, has refurbished its outlet at Bristol\u2019s Cribbs out-of-town shopping centre as it continues to invest in its regional store estate and widen its offering in the face of intense competition.<\/p>\n
It is the first of the group\u2019s 309 UK shops to feature a space dedicated to its 915 collection aimed at younger customers to allow them to explore the latest trends. It also has its own branded entrance from the shopping mall.<\/p>\n
The 9,000-plus sq ft store also includes a returns kiosk, which is being rolled out across Weymouth-headquartered New Look\u2019s retail estate, to make online returns and exchanges quicker and more convenient for customers.<\/p>\n
It will also showcase the group\u2019s latest womenswear, footwear and accessories collections in an updated layout.<\/p>\n
The refurbishment follows a spate of recent New Look openings and upgrades across its UK estate, including at Lakeside in Essex, Milton Keynes and Stoke-on-Trent, as well as the opening of its largest concept outlet so far \u2013 an 11,000 sq ft branch in the Metrocentre shopping centre at Gateshead.<\/p>\n
Alongside its store investment programme, the group is continuing to grow its Club New Look loyalty programme, which now has more than 1m members while also strengthening its digital capabilities through a \u00a330m investment.<\/p>\n
Mark Matthews, chief retail and digital officer at New Look, said: \u201cAs we continue to invest in our stores, we\u2019re focused on creating shopping environments that reflect how our customers want to shop.<\/p>\n
\u201cAt Cribbs, that includes introducing our first 915 space with its own entrance, giving younger shoppers a dedicated place to explore fashion and develop their own sense of style.<\/p>\n
\u201cWe\u2019re proud of the changes we\u2019ve made, and hope customers enjoy discovering everything the refreshed store has to offer.\u201d<\/p>\n
Iain Minto, senior director, asset management at Cribbs operating partner Sovereign Centros by CBRE, added: \u201cNew Look\u2019s impressive store refit is another example of an established UK retailer investing in its Cribbs space as we become a hub for brands to test new concepts and product ranges.\u201d<\/p>\n
New Look has been a familiar site on UK high streets since it was launched by Tom Singh with a single shop in Taunton in 1969, paid for with a \u00a35,000 loan from his parents.<\/p>\n
The Singh family sold 75% of the group to venture capitalist firms, including South African investment group Brait SE in 1995. Three years later it floated on the London Stock Exchange, before Singh and private equity firms Permira and Apax Partners bought it back and took it private again in 2004.<\/p>\n
In 2015 Brait SE acquired a 90% majority holding, with Singh and his family retaining a 10% minority stake.<\/p>\n
At that time it had more than 900 stores worldwide, including in Europe, the US, Middle East and Asia, at the height of its success in 2015.<\/p>\n
Three years later it underwent a Company Voluntary Arrangement (CVA) in the face of a \u00a31.2bn debt, which enabled it to restructure its lease arrangements.<\/p>\n
Global asset management firm Alcentra now co-owns the 90% stake with Brait SE.<\/p>\n","protected":false},"excerpt":{"rendered":"
South West-headquartered retail group continuing to invest in estate in highly competitive market<\/p>\n","protected":false},"author":272345,"featured_media":48212,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47995],"coauthors":[137101],"class_list":["post-48211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retail","tag-bristol-and-bath","tag-dorset","tag-featured-story","tag-south-west"],"yoast_head":"\n