CEO’s Comment Featured in Drapers
December 9, 2023 - December 9, 2023
Fashion-Enter’s CEO Jenny Holloway was recently asked by Drapers to comment on the practice of ‘deep storing’, whereby a retailer will store unsold winter stock, such as heavy coats, to sell the following year.
Retailers are wanting to protect their profit margins and the idea of storing stock and moving away from heavy discounting has grown in popularity since Covid rocked the boat over the last few years.
Jenny commented in the article titled ‘Retailers ‘deep storing’ unsold stock for next winter’ By Zoe Hu – “What we are hearing is that there is more being put away this year than discounting. Retailers are looking after their margins, which has got to be the right thing to do. But this means the OTB (open to buy) budget is going to be less next year because they’ve already got stock.”
Tap here to read the full article published on Drapers Online 13th January 2023