Monsoon Accessorize founder says only 6-10 Monsoon stores will reopen after lockdown
The news follows almost two weeks after Simon re-acquired the fashion retail group’s brands, head office and distribution centre out of administration via a pre-pack deal.
Adena Brands Ltd, a company under Simon's control, has since been in discussions with landlords to agree terms and save at least 100 stores out of its 230 retail store profile.
Simon told Radio 4’s You and Yours programme that of that 100 – up to 10 of them will be Monsoon stores while the others will Accessorize shops.
”Our intention is that there will be a few Monsoon stores,” Simon told Radio 4.
“In the end, there might be only six or 10 because we are going to be mainly an online brand.”
Monsoon Accessorize began to exit lockdown this week, with 12 stores reopening this week and plans for a further 20 each week until the end of July.
“What I can tell you is that we are going open more than we thought we would,” Simon said.
He added: “We have had great landlord support, which is why we’re able to open more.
“We will have more than 83 Accessorizes open. There isn’t really a direct competitor to Accessorize.
“It’s a lower price, has a wider appeal at airports and travel locations. It’s very versatile and really successful.”