HAD ENOUGH, I'M OUT, HERE'S WHY...2 Feb 2021 23:20
After long and careful consideration, I've come to the conclusion that this company is going nowhere fast and as of today sold my entire holding. The main reason being their ham fisted approach to online marketing, which, sadly, will prove to be the death of them. As anyone who knows anything about online marketing, it is brutal out there and only those who manage to cost effectively dominate, survive. Asos and Boohoo know the score and aren't afraid of spending to advance their presence and dominate their respective markets. I believe, in the coming months, with Boo having taken over Debenhams and brands which will directly compete with the Brown market, in the absence of any meaningful effort to preserve, consolidate and grow, quite frankly they will get slaughtered, whether that is by Boo or some other online savvy operators, make no mistake, others are coming for their target audience and they will steal it from under the snoozy nose of Brown before they have had time to wake up. At one point I actually thought that with the hiring of some bright digital marketeers, they were serious about filling their online tanks with some jet fuel but their attitude to marketing spend confirms that is not the case. Such a shame since they swivelled so quickly from the high street to online. The problem with that is that you have to spend, spend and spend to keep your existing customers and acquire new ones, otherwise, with competition so fierce, someone else will. For continuing holders, I hope I'm proved wrong come the next update but I'm not hanging around to witness what I believe will be a disappointment and further confirmation that we've been stitched up like kippers by a couple of OAPs with too much influence.
Sign In
Follow the stocks
