Monsoon to open more stores next year
Monsoon is planning to expand its store portfolio next year following a recovery in trading post-pandemic.
According to The Financial Times, the womenswear retailer will be looking to launch 22 stores. The company currently has 154 UK stores which are split between Monsoon and its sister brand Accessorize.
Founded by Peter Simon in the 1970s, the company appointed administrators during the first UK Covid-19 lockdown and was subsequently bought back by Simon after he agreed to write off an existing loan and inject new funding.
Monsoon chief executive Nick Stowe told the publication yesterday that “retail is doing great at the moment” and that the extent of consumers’ return to high street stores post-pandemic was a bit of a surprise.
The company is particularly keen to launch stores in more upmarket regional towns and cities and London “villages” such as Hampstead. Stowe said the company could probably get up to 200 stores in the UK if it wanted to.
He added: “The retail landscape has changed quite a lot… and the business rate changes next year could make quite a difference to the store portfolio – they make (opening stores) more attractive.”
Monsoon also has 200 stores in Europe, the Middle East and Asia, some of which are operated by franchise partners.
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