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| BEN SHERMAN |
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Ben Sherman is perhaps the quintessential British pop culture
icon, representing over 40 years of cultural innovation. Today,
the company is extending its reach into new territories, having
been embraced by fashionistas worldwide. Chief Executive Miles
Gray talks to RLI about the growth and evolution of this unique
brand. |
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| FIn addition
to seven outlet stores, Ben Sherman currently has five stores
in the UK, located on Carnaby Street in London; Lakeside in
Essex; The Oracle Shopping Centre in Reading; The Bullring,
Birmingham and The Trafford Centre in Manchester. Internationally,
the company is on something of a roll, with 20 stores opened
and many more to come. There are currently Ben Sherman stores
in Cape Town in South Africa, Gothenburg in Sweden, which
opened in May, and SoHo in New York, the brand’s flagship
store. In the US, there are also stores in Las Vegas, Los
Angeles and San Francisco, with a Boston opening scheduled
for late summer. The brand is opening in Berlin in September
and, in addition to existing stores in Sydney and Melbourne,
will open further stores in both Australia and New Zealand
later in the year. There are also five stores in the MIddle
East.
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In Asia, Ben Sherman has
two new stores in Hong Kong, two in Shanghai and three in
Korea, whilst it recently opened three standalone stores and
one shop-in-shop in a large Lotte department store in Korea.
There are also stores in Beijing, the Philippines and Singapore,
with a further seven Asian openings scheduled for 2008.
Ben Sherman Chief Executive,
Miles Gray says: “Through our partners, we also have
commitments for a further 25 stores by the end of 2008, bringing
us up to around 45 in total.”The brand has taken the
franchise route in many territories, but by no means all.
“Historically, we
are a wholesaler that has evolved into a retailer and we haven’t
purposefully said that we will franchise here and here, but
not there,” continues Gray. “Our Australian arrangement,
for example, has been in place for over eight years. We are
tending to address the larger markets, such as the UK and
US, ourselves and using our partners’ local expertise
in others.”
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The company
is also addressing the German market itself. “Germany
is the jewel in the crown; if we get that right you have a
fantastic foundation in Continental Europe,” he says.
“Like many other companies, we work to a three-year
plan and we anticipate opening 220 stores by the end of 2011.
For this we need a solid base.”
Ben Sherman is close to
entering the Indian retail market, having completed a great
deal of research and due diligence. “Each of our shortlisted
partners is talking about opening 5-7 stores in the major
cities of India in the first year; there are some excellent
retailers out there and we are really excited,” says
Gray.
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In addition, he is also
looking closely at the Russian market, where it has some experience
at the wholesale level.
“Part of our three-year plan is to open a further 15
stores in the UK and another 20 in the US, and, whilst we
don’t intend to plant the Ben Sherman flag in territories
where it may not necessarily work, we are also keen to get
India and Russia up and running. In three years’ time,
the UK will only represent about 30 per cent of our revenue,”
he says.
Clearly, Ben Sherman is a strong and instantly recognisable
brand, but how does the company continue to develop its product
to keep things fresh?
For the full article please see the
RLI June 08 issue
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Hall Hey Road, Rawtenstall BB4 6HH UK
Tel: +44 (0) 1706 212200 Fax: +44 (0) 1706 211782 Email:
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