Clarks hires McKinsey to speed up restructuring

Clarks hires McKinsey. The British footwear retailer has appointed the management consultancy firm to help with a transformation of the business. The appointment is part of a wider plan to grow the business’ underlying profitability and focuses on “renewing the relevance of the brand to consumers and partners,” said Clarks in a statement.

“We are transforming the brand to reconnect with our consumers by designing iconic new products and launching an exciting new brand and marketing strategy that is already engaging consumers across the world,” stated a spokeswoman for Clarks. “Our new strategy will allow the business to meet our ambition of returning the business to sustainable levels of growth and profitability by 2023”, she added.

Clarks finance director Paul Kenyon has also left the business and will be replaced by Philip de Klerk, former chief executive of materials maker Low & Bonar. In January, the retailer announced its United Kingdom factory in Street, Somerset could close after failing to meet manufacturing and cost targets.