A high street brand is pulling out all the stops to get out of the crisis. More sizes, less stock and guaranteed favorites, that’s the new line of conduct for this fashion store that’s seeing its numbers increase.
While most brands are eagerly awaiting the summer sales to boost their sales, one French brand is choosing to do things differently. No more relying on promotions to achieve goals. According to management, the new strategy is: “how to earn more by selling fewer products”. And it seems they’ve found the winning formula. Here’s why.
According to the Institut Français de la Mode (IFM), the sector is recording a 1.3% decline in activity in 2023. Against all expectations, one brand is posting 1.5% sales growth. But how is it going about it? According to Julien Pollet, the manager: “we need to better promote the items we sell and no longer depend on promotions”. As such, the brand is now focusing on expanding sizes, redeploying to exports and more circular fashion. The strategy seems to be working since the volume of items sold fell by 3% in 2023, while comparable activity increased by 2.5% last year.
That’s not all, the models offered now adopt a more minimalist style. Although the brand is neo-bohemian, joyful and colorful, “we wanted to simplify the collections by sending fewer messages to customers and by offering fewer themes, to make it easier to read the offer”, explains the manager. The prints therefore give way to plain items, but just as worked, facilitating the favorites. Finally, while the brand offered sizes ranging from 36 to 44, sizes 46 and 48 are now available, and 34 will not be long in coming. Hats off to Promod which is improving its image for the greatest pleasure of its customers and its managers!