Asda’s new owners the Issa brothers have committed to keeping the retailer’s George brand and unveiled plans to partner with third parties to attract younger customers.
When the brothers and TDR Capital completed the acquisition of Asda earlier this year, pending final approval from the Competition and Markets Authority, there were rumours they could look to sell George as fashion was not an area of expertise for the new ownership.
However, Asda has confirmed it will not look to sell George and will instead look to third-party tie-ups, including with the likes of In The Style, to try to woo younger shoppers back to the retailer.
Chief executive Roger Burnley said: “George has been a crucial part of the Asda family and continues to be a key part of our strategy. George is the second-largest retailer of clothing in the UK by volume and has a vibrant and growing home offer that attracts customers to our stores and online.
“Our new owners and investors clearly recognise the value and strategic importance of the George brand to our total business and we will continue to invest in its success.”
The In The Style partnership is set for a trial launch with 25 products online from April, with a view to rolling out a 50-product range in five flagship stores from May.
Asda said it plans to bring the pureplay womenswear retailer into 100 of its stores in future.
An Asda spokeswoman said it is in talks with Missguided to launch a wholesale partnership in flagship stores from June.
She also said the grocer was in talks with Lee and Wrangler for partnership launches later in the summer, as Asda works towards being “a renowned destination for denim”.
The retailer is also planning a string of own-label brand launches this year such as G21 and Holyfield, along with Adapt x Professor Green and Billie Faiers Kidswear.
No comments yet