N Brown Group

N Brown Group plc (LSE: BWNG) is an online retailer headquartered in Manchester, England. N Brown offers a range of products, predominantly clothing, footwear and homewares with a focus on underserved customer groups. The company is listed on the London Stock Exchange.

N Brown Group plc

Type	Public
Traded as	LSE: BWNG
ISIN	GB00B1P6ZR11
Founded	1859; 165 years ago (1859)
Headquarters	Manchester, England
Key people	Ron McMillan (Chairman) Steve Johnson (CEO)
Revenue	£715.7 million (2022)^[1]
Operating income	£56.9 million (2022)^[1]
Net income	£16.2 million (2022)^[1]
Website	www.nbrown.co.uk

History

The oldest company within the group - JD Williams & Company Ltd - was founded by James David Williams in 1859 when he started in business operating three mobile shops.^[2] In 1882, he took advantage of the introduction of UK's parcel post service,^[3] to send his company's products direct to his customers. In 1907, JD Williams instructed architect R Argile to build Langley Buildings in a baroque style on Dale Street in Manchester's Northern Quarter: this building still stands today.^[4]

In 1963, All Williams' family shares were bought by Cooper-Taymil Ltd (a subsidiary of Alliance Brothers Ltd. owned by Lord (David) Alliance CBE and Sir Nigel Alliance OBE) and placed in a holding company, N Brown Investments, (founded by Nathan Brown in 1964 and acquired by David Alliance in 1968). In 1970, N Brown Group acquired JD Williams shares along with mail-order catalogues Ambrose Wilson and Oxendales.^[5]

In 1986, N Brown Investments acquired the JD Williams group in a reverse takeover to secure a public quotation. The company name was changed to N Brown Group plc.^[6]

In 2004, the business moved to new premises on Lever Street in Manchester's Northern Quarter.^[7]

The company bought online underwear retailer Figleaves for £11.5 million in 2010.^[8]

Lord Alliance stepped down as chairman in 2012 with Andrew Higginson joining that September.^[9]

In 2014, N Brown outsourced 550 contact centre roles to Serco.^[10] That year it also issued two profit warnings within six months.^[11]

Angela Spindler joined as Chief Executive in 2013, succeeding Alan White, who had been in the top job since 1984.^[12]

In 2017, shares fell by as much as 9pc when N Brown announced it was facing a £40m hit after finding issues with a credit insurance product it sold to customers between 2006 and 2014, responding to a crackdown by the Financial Conduct Authority.^[13]

In 2018, Matt Davies was announced as the new chairman of N Brown Group.^[14]

In 2020, N Brown took a range of actions to retain cash after sales fell by 40%.^[15] It established a £50 million three-year lending facility under the Coronavirus Large Business Interruption Loan Scheme supported by borrowers. It also broadened curtained covenants in its existing £125 million unsecured revolving credit facility in anticipation of the half-year test date of August 2020.^[16]

Following the COVID-19 pandemic and subsequent lock down, the company suffered a sharp decline in revenue in March 2020 and then, in August 2020, suspended its dividend for the financial year ending in February 2021.^[17]

Brands

In 1999, Simply Be was launched to cater for women aged 25 – 45 in sizes 12 - 32 and has been a vocal champion of size inclusivity. ^[18]

In 2007, Jacamo was launched, catering for 25 - 45-year-old men of all body shapes, from small to 5XL. Former cricketer Freddie Flintoff was recently a key brand ambassador.^[19]

In 2018, JD Williams rebranded to become JD Williams: The Life Store, positioning the brand as a modern online department store for the 45 – 60-year-old woman.^[20]

Home Essentials, Fashion World, Marisota, Ambrose Wilson and Premier Man are also operated by N Brown as well as the Ireland-based Oxendales.

Stores

Simply Be, Jacamo and High & Mighty operated bricks & mortar stores throughout the UK until 2018. The company announced it was closing five loss-making stores in 2017^[21][22] and, after announcing, in June 2018, that it was proposing to close all bricks and mortar stores, the company had completely implemented that decision by August 2018.^[23]

Charity

In September 2017, N Brown donated £50,000 to the Royal Manchester Children's Hospital following the Manchester Arena bombing.^[24]

Locations

The business has its operational Head Office in Manchester's Northern Quarter and has warehousing and distribution centres in Oldham, in Greater Manchester, and Glossop in Derbyshire.^[25]

References

1. "Preliminary Results 2022" (PDF). N Brown Group. Retrieved 13 September 2022.
2. "History of N Brown". N Brown Careers website. Retrieved 23 February 2018.
3. "History of Mail Coaches". The Postal Museum. Retrieved 23 February 2018.
4. "Manchester: The Warehouse Legacy". Historic England. Retrieved 23 February 2018.
5. "UK: N Brown's outsize appeal". Management Today. 31 August 2010. Retrieved 26 February 2018.
6. "N Brown Group PLC". Companies House. Retrieved 23 February 2018.
7. "N Brown targets City Cube site". Manchester Evening News. 10 August 2014. Retrieved 26 February 2018.
8. "N Brown buys Figleaves for £11.5m". The Independent. 16 June 2010. Archived from the original on 18 June 2022. Retrieved 26 February 2018.
9. "Lord Alliance to step down from N Brown". Financial Times. 3 July 2012.
10. "JD Williams reveals it is outsourcing contact centre jobs to Serco". Manchester Evening News. 14 October 2014.
11. "N Brown issues second profit warning in less than six months". The Guardian. 11 March 2015.
12. "N Brown names Angela Spindler as new CEO". Reuters. 21 January 2013.
13. "N Brown shares fall after £40m hit on insurance products". The Telegraph. 13 July 2017.
14. "Former Tesco UK boss to chair retail company N Brown". The Telegraph. 18 February 2018.
15. Whiterow, Philip (23 March 2020). "N Brown takes emergency action after sales drop 40% in a week". Proactive Investors. Retrieved 27 May 2020.
16. Ord, Matthew (19 May 2020). "N Brown Group Strikes New Financing Arrangements". Insider Media. Retrieved 27 May 2020.
17. "Pain now for N Brown Group as profits slide, but digital investment is starting to pay off". Internet Retailing. 25 June 2020. Retrieved 26 August 2020.
18. "Plus-Size Models Staged a Protest During London Fashion Week: 'Where Are the Curves?'". Glamour. 16 February 2018.
19. "Andrew 'Freddie' Flintoff signs up to design Jacamo range for N Brown". The Telegraph. 11 July 2011. Retrieved 26 February 2018.
20. "JD Williams unveils multi-million pound advertising". Manchester Evening News. 25 September 2017.
21. "N Brown to close up to five loss-making stores". Financial Times. 20 June 2017.
22. "N Brown to close five stores". Drapers online. 20 June 2018.
23. "N Brown Group's shares drop over 20% amid interim results". Retail Gazette. 11 October 2018. Retrieved 24 October 2018.
24. "N Brown Group donates £50,000 to children's hospital after Manchester Arena attack". Manchester Evening News. 12 September 2017.
25. "14forty wins multi-million-pound catering contract with N Brown Group". The Caterer. 27 July 2022. Retrieved 13 September 2022.

External links

• N Brown Group official website