UK-based department store chain House of Fraser has revealed a wide outline of its new product and trade planning, based on the assumption that CVA (company voluntary arrangement) vote will go in its favour.
The retailer said that the new strategy makes for an important step in transforming company’s business programme. House of Fraser claims that it shall provide its shoppers with a better online and in-shop experience.
Although, David Walker-Smith, Chief Product & Trading Officer said, “Since joining House of Fraser and working alongside my team to analyse our present goods, it was clear that our consumers love the brands.”
Furthermore, he added that customers now expect more from their in-shop experience and as a business provider, the company needs to step up to cater to their demands.
The company has reportedly signalled that due to rise in demand of branded products over its own in-house labels in the country, the department chain might shut down few of its private brands in the coming future. Additionally, the company has got green signal from a majority of its creditors to shutter 31 of its stores out of 59 short-listed ones which will now result in around 6,000 people losing their jobs.
David elucidated further that the brand is unfolding a new chapter for growth and is working with both active and forthcoming partners to bring thrilling offerings to stores and online marketplace.
