The British group has planned to reduce its pricing structure by 10% and relaunches its in-house brands.
Arcadia boosts Topman. The British group, owner of other companies like Topshop, Miss Selfridge or Dorothy Perkins, has reinforced its men’s fashion chain with the relaunch of its in-house brands. At the same time, the chain will reduce its pricing structure by 10%.
Topman will sell, once again, the Topman Premium line, specialized in merino wool garments, Topman Signature, of sports accessories, Topman Big and Tall, for large sizes, Topman Heritage, for warm clothes and Topman LTD, for urban fashion.
The head of this strategy was Mitch Hughes, that was appointed last March as the trading director of the British fashion group. “This are necessary changes to put Topman ahead of the pack”, stated the executive.
The plans for Topman are happen in the middle of the restructuring process of Arcadia. The British group has reached an agreement with its creditors in the country to execute a reorganization of its business.
Arcadia closed its fiscal year 2018 with losses for 138 million pounds (153.7 million euros), compared to the 199 million pounds (221 million euros) of the previous year. This is the first time in seven years that the group closes its fiscal year on the low.