History Arcadia Group

1 history

1.1 history , pre-ww2 era
1.2 post-war developments , expansion
1.3 1990s: reorganisation, launches , acquisitions
1.4 2000 present

history
early history , pre-ww2 era

the arcadia group has origins in firm founded 18-year-old lithuanian immigrant montague burton in chesterfield in 1903 cross-tailoring company. burton s initial operation, men s clothing manufacture, tailoring , retailing operation, became genesis current burton menswear chain, still remains part of company, albeit having moved away traditional tailoring mainstream men s off-peg casuals , formalwear line shifting trends in fashion , clothing. eventual holding company survived burton group plc until 1998, when current name substituted.

the firm s headquarters moved chesterfield leeds in 1910, , cross-tailoring company had changed name burton time first world war broke out in 1914.

the company first listed on london stock exchange in 1929, time had 400 stores, factories , mills. then, company had large factory in leeds.

post-war developments , expansion

after world war ii, montague burton offered men chance buy full suit, included jacket, trousers, waistcoat, shirt , underwear, became known full monty. in 1946, company acquired peter robinson women s fashion chain. 1952, year montague burton died, company largest multiple tailor in world. burton official suit supplier of england national football team world cup in 1966.

in 1964, peter robinson chain began became relaunch topshop. in response development of new young fashion culture around britain in 1960s; topshop became company s home of young, modern, on-trend ladieswear, role continues hold. topshop launch began topshop-branded departments within peter robinson stores in 1964, first standalone topshop stores opened ten years later in 1974. eventually, peter robinson name dropped altogether. in 1971 group acquired evans, major operator in field of fashionable clothing women wearing larger-sized clothes.

in 70s, , complement suit business, group began develop in mainstream clothing retailing beginning target chains precisely defined markets - example launched topman young men in 1970. development capitalised on success of topshop in catering young, fashion-savvy audience, , reflected growth in men s casual clothing, formal-wear sales declining due trend more casual general clothing.

the firm expanded horizons acquiring businesses outside fashion heartland, @ 1 point owning ryman, stationery chain, later scaled focus principally on clothing.

the dorothy perkins chain acquired in 1979, enabling group expand mainstream womenswear market, following success of previous ladieswear ventures (topshop , evans). dorothy perkins chain has subsequently been positioned group s main ladieswear operation, focused towards similar target audience burton in menswear.

in 1984, group launched new chain, principles, fashion conscious women higher disposable income; allowed firm capitalise on emerging new fashion , business trends of 1980s, such power dressing. principles men launched year later, in 1985, following success of ladies division.

also in 1985, group acquired debenhams, largest department store group in uk. large store browns of chester, had been part of burton group, subsequently moved across trade part of debenhams chain, , remained part of debenhams unit following unit s divestment (it today debenhams-owned store not branded under debenhams name).

the firm purchased menswear firm colliers, rolling burton, topman , principles men chains.

1990s: reorganisation, launches , acquisitions

in 1993, spurred on recession of 1990s had led declining sales across clothing retail market, burton group undertook major review of trading space portfolio. under banner of townprint, firm reviewed location , branding of stores in each town , city in operated. @ time of review, group operating in region of 1,600 stores, of had been group years , of no longer performing adequately. ultimate result group ended leases on around 380 of outlets trading @ point, though replaced on half of these (around 220 stores in all) lease of store units group had not been trading from. around 350 stores transferred 1 of company s brands another. part of townprint programme, firm began roll out new ways of working, such operating increasing numbers of combined stores, several brands shared same unit; these combinations (such topshop/topman or burton/dorothy perkins unit-shares) continue developed through 1990s , 2000s way of reducing overheads whilst maintaining geographical spread of brands.

in 1996, group made first move home shopping acquisition of innovations, mail order catalogue company, along hawkshead brand in july 1996 , racing green in october 1996. innovations , related brands sold home shopping group great universal stores in november 1997.

the decision de-merge debenhams , separate rest of group announced in july 1997: plan approved shareholders in january 1998 , de-merger took effect later month. @ time, debenhams became separate company own listing on london stock exchange. @ point group, until still known burton group plc, became arcadia group plc.

the late 1990s saw launch of new experimental high-fashion menswear chain, su214 (style union 214), took name flagship store @ 214 oxford street in london. chain aimed capitalise on growing demand high-end casualwear , expand upon group s presence in young menswear market.

in june 1998, group acquired wade-smith, liverpool-based retailer of designer childrenswear, menswear , womenswear. acquisition allow arcadia expand presence in childrenswear market, had made little attempt @ point. new wade smith jr stores opened in locations such bluewater shopping centre in kent.

in june 1999, arcadia group launched zoom, e-commerce , internet service provider forms key part of group s multi-channel approach retailing. shortly after zoom s launch, associated newspapers ltd acquired 50% stake in zoom, allowing both partners benefit increased joint marketing opportunities.

in july 1999, arcadia group increased share of uk womenswear market acquisition of sears womenswear businesses, comprising warehouse, wallis, richards, miss selfridge , outfit brands defunct sears plc. shortly afterwards, arcadia chose close down underperforming richards chain, though shops in suitable locations rebranded under other arcadia store brands. arcadia continued develop wallis, miss selfridge , warehouse brands, , expanded outfit out-of-town store chain, introducing other arcadia brands stores , expanding store network.

2000 present

in 2000, firm undertook strategy known internally brandmax under underperforming brands closed or scaled down. in cases stores closed replaced other arcadia properties. part of brandmax, wade smith jr, principles men , su214 store brands ceased trade , absorbed concessions other group businesses (for instance, menswear chain su214 absorbed topman). miss selfridge reduced in size (though gained new london flagship store in former su214 flagship site) , remaining standalone topman stores replaced combined topshop-topman stores, process of integration had begun years previously.

in 2002, arcadia group plc bought taveta investments, owned taveta ltd based in jersey. taveta ltd owned philip green s family, director tina green wife of billionaire philip green accordingly arcadia group became private company , delisted london stock exchange.

by middle of october 2002, company had sold of chains, including principles, warehouse, racing green , hawkshead, rubicon retail £35m. outfit stores retailing principles , warehouse clothing continued arrangement new owners. arcadia entered discussions regarding sale of wade smith brand previous owners.

in 2005, sir philip green bought uk retail stores of etam , tammy; these stores converted other arcadia retail outlets, tammy clothing subsequently being retailed through bhs , outfit stores. of stores not retained arcadia taken other fashion retail groups, monsoon acquiring large number of outlets.

in february 2009, announced bhs department store chain, owned greens, integrated arcadia. part of changes, administrative functions run separately intended consolidated improve efficiency, , bhs retail stores begin carry arcadia brands concessions, enabling arcadia expand presence of brands without having lease large numbers of new stores, , allow firm cut store costs moving operations stand-alone stores bhs locations. in mall bexleyheath, firm able introduce wallis retail portfolio without having lease separate store unit so, , able close existing evans store , relocate operations bhs. meanwhile, @ lakeside shopping centre in thurrock, essex, existing two-floor bhs replanned reformatted single-level store allow topshop/topman relocate prior site (itself earlier expanded neighbouring ex-etam premises) take upper level of bhs. (the previous topshop/topman space used introduce forever 21 centre).

in late 2010 emerged arcadia considering review of property portfolio, similar undertaken under townprint , brandmax schemes, @ firm s store distribution; sparked fact several hundred of firm s existing store leases expire on coming 3 5 years. analysts estimated between 150 , 300 stores shut , replaced new locations or integrated/combined stores. after phillip green confirmed number of stores under lease fall, in 2013-14, arcadia began shutting stores in number of locations, in small-to-medium-sized towns , cities, including south shields, barnsley, scunthorpe, dartford, crawley, erdington, birmingham , market harborough amongst others. arcadia cited rise in online shopping , destination centres reason moving away high street locations.

in march 2015, following continued losses bhs sold retail acquisitions ltd.