Member Info for ragtrade

Southcoast, mmmmm, i think the international expansion is the key point to take away from this, many retailers reached UK saturation and could only grow by taking on more and more UK leases which led to the death knell of many and for the ones that did venture overseas they really struggled, Primark being the exception. Sky's the limit for Asos and BH with international online expansion but for BH this is an area of JL's weakness, that's not to say that they cannot bring someone onto the Board with experience, i would be looking towards the Inditex Board for inspiration on this

Kall, nah, i'll agree to disagree, like BH these new Brand acquisitions are barely out of the fashion starting blocks, Asos and BH did well to win the battle for them and like the article says it will stand them in good staid for years to come. They now have to build and market them, as i've said countless times the building of them is happening, SS22 will be pivotal, it will be the first season where they have had time and teams to really launch, i agree with the article when says it will be exciting to see where they go with them, new era is upon us for these Brands.

Cotnd Pg2
“Overall he’s done a good job, as in retail history of CFOs becoming chief executives hasn't been particularly good. Nick has managed to make that transition well. He’s also made Asos a big business. The fact that Asos have only just begun a search for a replacement suggests this decision wasn’t planned that far in advance.”
In agreement, one headhunter told Drapers: “Beighton has been at Asos for 12 years – he has grown with the business. It has gone from hundreds of employees to thousands, and a turnover of millions to billions. His exit is part of a strategic move by the board to bring in someone with global experience.
It is interesting timing, given the changes that the fashion businesses are faced with at the moment [including supply chain issues such as the HGV driver shortage and an increase in shipping costs] so you would think Asos would aim to have a steady ship [by keeping the CEO on]. However, businesses are at a crossroads as they emerge from Covid, therefore many are looking at their long-term potential and the roles they would need in place to achieve that.”
Beighton’s departure from Asos marks the start of a new era for the online giant. While he has steered the business through the last six years successfully, his exit has demonstrated to Asos's competitors that it is readying itself for long-term growth both in terms of the growth of its newly acquired brands and its place on the international retail stage.
As Asos is now a brand owner, how it develops Topshop, and Miss Selfridge will be the real standout moment
Ray Clacher, former chief executive of Kent & Curwen and Gieves & Hawkes, and now director at consultancy RMC Retail
Asos declined to comment on the departure, however, chair Adam Crozier told Reuters that the decision was taken because Beighton could not commit to stay for at least half of the group's next five-year plan.
Ray Clacher, former chief executive of Kent & Curwen and Gieves & Hawkes, and now director at consultancy RMC Retail, said that under Beighton the etailer has developed a robust business: “Despite insane competition from the US and Chinese super-power retailers such as Amazon, Tmall, JD.com and the UK online pureplays Boohoo, Next, PrettyLittleThing and Marks & Spencer, Asos has built a brand that will endure for years to come."
Commenting on what Asos's new CEO will need to prioritise Clacher said: “The new CEO will need to focus on growing a sustainable bottom line, as sales growth has not been the issue. As Asos is now a brand owner, how it develops Topshop, and Miss Selfridge will be the real standout moment, and I can’t wait to watch that journey.”
Another headhunter added: “The fashion ecommerce space has recently become busier because of trading from other retailers, such as Boohoo expanding their footprint [with the acquisition of Debenhams and several Arcadia Group brands. Asos will be looking for someone who has worked in a large online retail environment.

Will post as much as i can on one message, Caroline @ Drapers
Nick Beighton’s departure from Asos has come as a “shock” to the fashion industry. However, the new CEO will need to prioritise international expansion and building supply chain relationships, industry onlookers have said.
Earlier today (11 October) Asos confirmed that CEO Nick Beighton exited the etailer with immediate effect after 12 years. Beighton joined Asos as CFO in 2009 and has been CEO since 2015.
Following Beighton’s departure, Asos’s CFO Mat Dunn will take on the additional role of chief operating officer and lead the business on a day-to-day basis, with Katy Mecklenburgh, currently director of group finance, to support as interim CFO.
Senior independent director Ian Dyson is to become chair, replacing Adam Crozier. Dyson will lead the search for a new CEO.
The Asos share price has tumbled in recent months, losing more than half its value since July. Following the announcement of Beighton's departure, it plummeted 13.57% to 2410p at 3pm Monday, representing a 56% decline since 7 July, when the share price stood at 5150p.
Beighton said in a statement: "When I joined, there were fewer than 200 people and we had annual sales of around £220m. I leave a business reporting turnover of almost £4bn, with more than 3,000 fantastic Asos-ers delivering for 26 million customers in 200 markets around the world."
In its latest results Asos stated that revenues for the year to 31 August grew by 22% to £3.9bn, with gross profit up 15% year on year. However, supply chain disruption has affected European Union sales, which grew by only 4%, and margins were also impacted by higher freight costs.
The fact that Asos have only just begun a search for a replacement suggests this decision wasn’t planned that far in advance
Richard Hyman, retail analyst
Retail veterans, industry analysts and fashion retail headhunters have told Drapers the announcement came as a surprise, given Asos's continuously strong financial results over the last twelve months. However, the etailer's hunt for a new CEO will give it a chance to tap into its international potential by recruiting a CEO with experience managing and expanding a global business.
“Nick Beighton is well respected and seemed to be doing a good job, so it’s all a bit of shock,” retail analyst Nick Bubb commented.
“Notwithstanding the profit warning, it’s not clear why he’s been pushed out. He had big shoes to fill when he took over from Nick Robertson in 2015, so he did well to manage the transition and grow the business to its current size.”
Retail analyst Richard Hyman said: "The announcement is a surprise and the timing is slightly perplexing seeing as it just bought Topshop. And, given that the purchase was ultimately Nick’s decision, you would think that he would stick around to bed Topshop in.

HH- I concur, in fact up to fleagate attitude was almost cult like, fleas came along and never been same since.

HH -Lest we all forget
Dan Ginger Troll 90- is one of the top brokers in the UK, keeps quiet about it but in his early years George Soros mentored him, he also was Financial Director for Amazon, Facebook, Tik Tok and YT, he is the Author of the multi million selling books The Platform and Always in Hindsight, which were cited as the inspiration for THG. In the Gym one day, he shared some weights with Ben Francis, this is said to have set the seed that led to Gymshark. He is influential on the catwalks and always gets a front seat at London Fashion Week, he was a Cambridge Full Blue and is President of the Hawks Club and lastly is never never ever knowingly wrong, follow him and you can't go wrong, only downside is that he is nervous of fleas.

Asos still falling

Most of the sector is down, Next and Asos both at 3 month lows, THG not far off all time low.

Pmoran- Ragtrade - I get your point but in fairness if kamani was going to parade himself round the streets of Leicester naked whilst walking on broken glass then surely he would have to be stoned? I know I would!! ;)

TBH Pmoran i think this most weekends in Leicester :)))))))))

Ok my take on all of this.
1)Blah
2)Blah
3)Blah
4)Blah
That said i am very surprised how far both BH and Asos have fallen, costs are weighing heavy but we are about to come into the busiest time of the year for the Industry, we are not seeing the spikes of Covid that curtailed any plans of a half decent Christmas let alone a 2020 party, so there is massive pent up demand, no one bought going out in 2020, a lot of this stock was put into dark storage, it will be wheeled out, most people won't have brought an outfit since 2019, for some i expect a record Christmas , provided they have the stock and it's not floating around the Ocean in some container or waiting for it's boarding pass!

Pedro , Do you not think that this goes on around the World in every sector, this is such a generic story, BH were 1000000000000% wrong in the past, as were all the other companies that in the past have knowingly abused workers rights and conditions, as are all the companies that continue to do so either willingly or unwillingly. Scratch the surface of Shien that everyone is banging on about as being the next big thing to challenge UK online ragtrade and you will not find any transparency, in fact you will find a whole heap of steaming sh#t, dig a bit on dogs plastic toys and funny outfits, look into the halloween crap that will adorn the shops in coming weeks. BH were low hanging fruit but are at least putting their house in order now, i know this because before they published the recent list they paid us a unannounced visit (how it should be) and did a fine tooth comb audit like we have had from Asos and Primark, they are not just paying lip service. What do you want from BH Group on ESG, do you want Kamani stripped bare for past wrongs and paraded thru the streets of Leics, walking on broken glass whilst stoned ?? I was there biggest critic few years back on this, i no longer beat that drum because pressure has come to bear and they are sorting. Suggest you look elsewhere, a bit further up the tree, companies and product that are not on everyone's radar because this is where the true horror stories are and whilst on subject of digging start with mining, anyone for oil, how about arms trade ?? or say Altria, Walmart, Wells Fargo. these guys are even lower on the tree than BH in fact pick em up off the ground.

Goldenyears, buy art not shares, me and Mrs Rag have just been out and treated ourselfs to a original Dan Pearce. 500% rise by time i get to 30 i reckon, i tired to do the McCallum thing but kept drinking the damn stuff!!!

Goldenyears, I'm so so so very sorry i upset you, i'm absolutely clueless, i just roll the dice and stick my finger in the air to see which way wind is blowing, however there's a bloke on here who you'd love, sounds an awful lot like you, he is good friends with Ed Sheeran and Chris Evans. He is one of the top brokers in the UK, keeps quiet about it but in his early years George Soros mentored him, he also was Financial Director for Amazon, Facebook, Tik Tok and YT, he is the Author of the multi million selling books The Platform and Always in Hindsight, which were cited as the inspiration for THG. In the Gym one day, he shared some weights with Ben Francis, this is said to have set the seed that led to Gymshark. He is influential on the catwalks and always gets a front seat at London Fashion Week, he was a Cambridge Full Blue and is President of the Hawks Club and lastly is never never ever knowingly wrong, follow him and you can't go wrong, only downside is that he is nervous of fleas.

PG2 contd
I think it will take 6 months ish for costs to wash through the system. I do wonder if these costs were not there then where would this share price be. Despite what's been said sell prices have to rise, i cannot see how they can't, already posted on previous post stuff that's not even mentioned or on anyone's radar, Debs is saviour in this respect, if the choose to do so they can use these Brands to inch up margins they are much more resilient and less sensitive than, PLT/BH having such a history it will be a lot harder to increase. I'm no expert on Beauty but i suspect cost headwinds to be less and we are coming into the season when this sector massively comes into its own. If you want to day trade and really u/s this share then now's your chance, i bought Asos at 22 and sold at 52, never thought i'd get another bite of the cherry however recently bought back in at 30, thought no chance it would hit that low anytime again soon, how wrong i was, just about holding its own. as i type BH at £2.17, i still believe but i'm very very long on this now, LoL.

Well i've just come back from Gt Pulteney St, mood is pretty chipper despite the share px, tbh i don't think half the staff are even aware of the day to day.
Tons of messages on here and not had time to go through all but i have seen one from someone saying about time for a CEO change, errrrr this isn't some Premiership Team, the management that have been brought in are the best in the business, if you want street fighters who know all the moves then you have the best people, all have been there seen it done it.
Interestingly despite all the share knowledge on here very few have predicted a fall this big, History tells us that any adversity on this share then it plummets, any positive news it just steps up a bit, this is why i think predictions are a total waste of time short term and as i said many moons ago this share went from long to very long on the Debs/Aradia purchases , it simply is a completely different company to old BH and in my mind despite todays fall a much better one.
Unfortunately i don't think the increased costs are diminishing any time soon, not sure the below are even on anyone's radar.

http://www.fibre2fashion.com/news/textile-news/chinese-textile-prices-may-go-up-30-40-due-to-power-cuts-276586-newsdetails.htm

https://www.bloombergquint.com/business/cotton-prices-near-decade-high-signal-jeans-could-get-pricey

JL has now confirmed the planes i mentioned being chartered, this will ease the really seasonal stock for core brands and will also fuel the faster fashion demand for BH/PLT. I've already said on here that Debs/Arc Brands do not require test repeat, this is important as stock is taking by sea 12-14 weeks to get here, worse from China, this means a whole season lost with stock going fashion stale, so being able to charter whole planes will ease this issue for itimes like seasonal jackets and fast seasonal must haves, PLT, however if you have 10's of thousands of cartons sitting around the World thats an awful amount of planes, not sure what a jumbo takes but as someone said to me today it's going to take one hell of a lot of flights.
On a positive note it's the same for all, Kallu even Primark, one added bonus for BH Group is that they have the biggest net work of UK manufacturing in the sector, so this again helps massively on PLT/BH, oddly the negative ends up becoming a real asset.
Havent had time to hear presentation so i'm unclear if there is any more guidance on specific Brands, i've said that PLT will wane in the future, again as i've said i did not mean near future, i'm talking 5 years ish here!!!! I read this morning JL comments re new brands Arc/Debenhams and the demo from 16-50 with customer base going from 100m to 500m, i get everyone dismissing these Brands but management isn't and whilst they are steady away they will become a bedrock of stability and are much much easier to manage and make margin on, will say it again again, they can steal market share from Next here, pg 2 coming run out of

Kindness that's weird i was aware this was on horizon again and amongst other stuff was reading this last night.

https://www.vox.com/policy-and-politics/22684328/us-debt-ceiling-government-shutdown-biden-democrats

Kallu , everyone has same issues inc Primark.

So word is Boo Hoo haven't bought a plane but are in fact chartering flights from China to get stock in.

Hi Kallu, trust you are well for a Monday as your a bit more spiky than normal today !! Any hows, just like Jon Bennett joining Primark as Head of Sourcing, who has brought in fresh impetus as well as adding vast exposure and experience outside the bubble of Dublin i expect a new HoB at BH Brand to do the same, at mo it's only a rumour but no smoke without fire but i do think that the BH Cheshire Set need someone to come in and mix it up and keep them on their toes as many of them have only ever been at BH, the one person who will have seen JB arrive at Primark and recognised this as a smart move will be JL, don't forget he knows JB well. As for the other points, i refer you to the many posts over many months that myself i and others have covered on this.

Goldenyears ok my last word on PLT t/o. I mentioned many things in my post about the Debs/Burtons/DP's Brands and why i think they are so important to the BH Group and the GT tries to pick up on one point, one point in fact that he said was many years old, last time i looked 18 months wasn't even a couple of years and i quoted the last published figure, he does this all the time, picks up on one point, often out of context and Gas Lights it. Jesus as i said it doesn't take a rocket scientist to know that they won't have remained static for 18 months !!!! so if you also zero in on this ridiculous point when there were many other points i made then yes i'm afraid you are doing his bidding. You said you came on here because you want reasoned insight, great, I could u/s if you actually were aware of the Debs Brands and Burtons/DP's demo and how it has changed over the years and argued the point about PLT remaining totally dominant, or even lead times i mentioned or the fact that factories are turning away small QTY orders, soooo many things you could have questioned me on if you really wanted to get a look behind the coming SS22 season for the Group, however you didn;t you picked up on one point the latest published t/o figure, GT didn't even realise himself it wasn't published anymore!!! As i have said time and time again this is about the belief in the share and it heading in the right direction. Ask me questions that relate to what's going on with ranges or management etc etc as i have said so many times these teams will make a difference and it's now happening, if you want reasoned insight perhaps this might be a more suitable route, latest rumour btw is a new head of the Boo Hoo Brand, badly needed in my eyes to bring a fresh pair of eyes and input outside the current clique.