The fashion group, which is also parent to Oasis, Coast and Karen Millen, has repositioned Principles upmarket following a review of the business.
The review, which began six months ago, has included an overhaul of store design, product ranges, price points and visual merchandising.
The first results were revealed at the opening of Principles’ City store last week and in High Wycombe last month. The final evolution will be unveiled at the opening of its Liverpool shop next month, before being rolled out across the chain in autumn.
Mosaic deputy chief executive Mike Shearwood said the retailer, which has 430 outlets globally, had previously lost its 30-something customers in a focus on increasing space rather than on the product itself.
“We have increased the design element and decluttered stores,” he said.
The retailer has reduced its options by between 15 and 18 per cent following the review, with an overall decrease of 25 per cent year on year. It has refocused on product quality and improved visual merchandising, and reduced its supply base by 20 per cent this year.
Principles will also focus on its Petites range, which accounts for 25 per cent of sales at present. “I believe we can own the petite market,” added Shearwood.
He said the chain would also be opening stores in Germany via Arctic group, as well as 30 stores in Holland.
In September 2006, Mosaic merged with Rubicon, the owner of Principles and Warehouse.
It has proved a difficult union, with Principles being described as “a concern” by Mosaic chief executive Derek Lovelock after sales slid 9 per cent in the half-year to July 28.
No comments yet