New Look (company)
New Look is a British global fashion retailer with a chain of high street shops. It was founded in 1969. The chain sells womenswear, menswear, and clothing for teens. New Look was owned by private equity groups Apax Partners and Permira, and founder Tom Singh,[4] until May 2015 when it was acquired by Brait SE (SA) for £780 million.[5]
| Company type | Private Limited Company |
|---|---|
| Industry | Retail |
| Founded | 1969 Taunton, Somerset, UK |
| Founder | Tom Singh |
| Headquarters | Weymouth, Dorset, United Kingdom: (Corporate Services) London, United Kingdom: (Creative, Digital and Productive departments) |
Number of locations | 570 approx. (2021)[1] |
Area served | Worldwide |
Key people | |
| Products | Clothing |
| Revenue | GBP £1,528 million (2014)[3] |
| GBP £805.9 million (2014)[3] | |
| Owner | Brait SA |
| Website | newlook |
History edit
New Look was founded by Tom Singh in Taunton, Somerset, in 1969.[5] Since then the company has expanded and previously operated across a chain of over 900 stores internationally, including Belgium (they opened their first Belgium store in 2006), France, the Netherlands, the Republic of Ireland, Romania, Malta, Malaysia, South Korea, Singapore, Thailand, Indonesia, United Arab Emirates, China, Germany, Russia, Bahrain, Saudi Arabia, Azerbaijan and Poland, and a staff of over 18,000.[citation needed] The group had a turnover of £1,147 million in 2008 with profits of £180 million.[6]
In 2004, the company withdrew from the stock market and was taken back to being a privately owned business by founder Tom Singh and chief executive Phil Wrigley, and private equity investors Permira, Apax Partners and Quillian Investments.[7]
On 26 April 2007, a fire occurred at a New Look branch in Oxford Street, London.[8] The subsequent investigation revealed an extensive catalogue of failings relating to fire safety precautions and measures. The company subsequently pleaded guilty to criminal charges and on 25 November 2009, was fined a total of £400,000 with £136,052 costs.[9] In 2010, the fines were upheld by the Court of Appeal.[10]
In 2008, New Look continued their expansion in the UK and opened their largest store at the time in Liverpool One Shopping Centre.[citation needed] In February 2009, the company's fortieth anniversary year, New Look opened their first store in Russia.[11]
In July 2010, New Look opened their three-hundredth store in Glasgow Fort Shopping Park. The store is 18,000 sq ft (1,700 m2). It was built on the site of a former Borders store.
The largest New Look store in the world opened in Dublin, Ireland on 4 November 2010, located at the Jervis Shopping Centre.[12] It is the twenty-ninth New Look store in Ireland. Many of the outlets in Singapore have been closed, except CityLink Mall, City Square Mall and the latest opened store, Republic Polytechnic.
In 2015, New Look was purchased by Brait SE; had 94 stores in China, and 852 globally.[5][13]
In 2018, New Look closed 60 stores in the United Kingdom and withdrew from international markets.[14]
See also edit
- Top Track 100 — list of 100 largest private companies in the United Kingdom. New Look is at number 32.[citation needed]
References edit
- ^ "New Look Retail Group Limited Annual Report 2018" (PDF).
- ^ a b c "New Look Group Leadership Team".
- ^ a b "New Look Retail Group Limited Annual Report 2014" (PDF).
- ^ Moulds, Josephine (4 June 2013). "New Look returns to profit". The Guardian. Retrieved 27 October 2014.
- ^ a b c Farrell, Sean (15 May 2015). "New Look snapped up by South African tycoon". The Guardian. Retrieved 10 October 2015.
- ^ Sunday Times Top Track 100, 29 June 2008.
- ^ "New Look pretax wiped out as sales drop". Reuters. 8 June 2011. Retrieved 21 June 2023.
- ^ "New Look fire brings record fine". 25 November 2009. Retrieved 8 June 2023.
- ^ "UK high-street firm New Look fined for serious breaches of fire safety | Fire News". TheBigRedGuide. Retrieved 13 October 2013.
- ^ "New Look Retailers Ltd v London Fire & Emergency Planning Authority [2010] EWCA Crim 1268 (16 June 2010)". National Archives. Retrieved 27 December 2022.
- ^ . New Look. Archived from the original on 30 October 2009. Retrieved 13 October 2013.
- ^ "Press Release - Biggest New Look Store Launches in Dublin". 24-7pressrelease.com. 5 November 2010. Retrieved 13 October 2013.
- ^ "New Look seeks fashion edge in China with local designs". Reuters. 20 October 2016. Retrieved 14 June 2023.
- ^ "New Look losses mount as Brexit, rains keep shoppers away". Reuters. 25 June 2019. Retrieved 6 June 2023.
External links edit
- New Look Website
- New Look General Website
- News items
- New Look moves 250 jobs to London in January 2009
- New HQ in Weymouth in August 2007
- Newcastle-under-Lyme in July 2004
- Going private in February 2004