Jigsaw pieces itself back together with retail expansion plans
British premium brand Jigsaw is set to open a series of new stores less than two years after closing a big chunk of its retail portfolio.
The womenswear retailer, which shut approximately 30 of its 76 stores as part of restructuring plans in 2020, has confirmed the opening of at least three new locations this year - Manchester, Islington, and Kingston.
Jigsaw's CEO Beth Butterwick told The Times that the business could open about 20 new sites in the next few years. “We will open as many stores as we can agree and find the right location,” she said.
Butterwick said most of the stores would be in market towns and regional city centres and on smaller sites. She continued: “We feel really positive about the role of stores. The high street has gone through a battering and some high streets are reshaping themselves. Going back into locations where we were before feels like the right thing to do”.
Jigsaw made an operating profit of £1.2 million in the financial year ending January 2022, compared with a loss of £21 million in the same period the year prior. Sales jumped from £38.7 million to £47.7 million, whilst pre-tax losses fell from £8.7 million to £1.3 million.
Earlier this month, Jigsaw opened the doors of the latest addition to its retail estate – a 1,367 sq ft boutique-style store at the new Battersea Power Station development. Features include a lounging area to make customers feel at home whilst trying on collections, as well as upcycled chairs, curved walls, and soft furnishings in neutral textures.
Last summer, Jigsaw partnered with rental and re-sale platform My Wardrobe HQ to offer customers the opportunity to rent or subscribe to its collections and sell their own pre-loved Jigsaw garments.
Listen to TheIndustry.fashion's podcast with Beth Butterwick, CEO of Jigsaw.