UK retailer Monsoon Accessorize's 141 joint stores will be closed up
Monsoon Accessorize joint store, Ph: theloadstar
As part of a restructuring programme led by its new chief executive Paul Allen due to a 9% fall in sales of retail to £465m in the year to August 2015 and plans to launch a ‘far-reaching strategic reorganisation programme’, which will include refocusing the way the group’s brands are operated in the UK with different strategies to address their distinct core customer propositions.
Monsoon Accessorize is planning to close up to 141 joint stores over the next five year.
It plans to open separate Monsoon and Accessorize shops in the areas where joint outlets are now located.
Monsoon Accessorize is established in the 1970s and owned by tycoon Peter Simon. Now it has over 5,500 employees across the UK and more than 300 stores.