Russell & Bromley to refine brand proposition under new turnaround strategy

Russell & Bromley have announced a five-year turnaround 'ReBoot' strategy, comprised of five key components, spearheaded by CEO Andrew Bromley.

The framework will use five key axes in its mission: brand & product, people, growth & expansion, marketing, and operations.

ReBoot will focus on "refining the brand proposition, elevating the product offering, streamline operations and fuel market expansion at pace".

In the year to 31 December 2024, turnover at the family-owned British shoemaker fell 9% year on year to £56.5 million, with an operating loss of £9 million.  The retailer attributed this to a "combination of macro-economic headwinds combined with a period of significant growth investment for [the ReBoot transformation".

In 2024, the business took various measures as part of its strategic-roll out to ready the business for stabilisation in 2025. Russell & Bromley relocated its global headquarters to Soho's Kingly Street, as well as relocating their distribution centre to Corby, Northamptonshire. The latter is part of an effort to deliver efficiencies in its supply chain and help to build foundations for international expansion, starting with the Middle East in 2026.

Russell & Bromley hired Daniel Beardsworth-Shaw as its Creative Director in May 2024, the first since the brand was founded in 1873. Beardsworth-Shaw was previously Vice President of Design at Sweaty Betty before his two-year tenure as Design Director at Accessorize.

Beardsworth-Shaw's role covers Brand and Product design, in an attempt to "shift the business to a design-led model by autumn/winder 2025", when he will unveil his first collection across both footwear and accessories.

The heritage retailer has also taken measures to reduce operational costs, in an effort to ensure a profitable, more agile future. The brand said that the recent Budget-induced minimum wage and National Insurance contributions for employers are adding extra pressure against an already tricky trading backdrop.

An executive reshuffle is now underway in an attempt to "streamline process, drive organisational clarity and establish a leaner, more efficient operating model".

Andrew Bromley, CEO, said: "We have embarked on a transformation strategy that will guide Russell & Bromley towards a new era of growth and restored profitability. An ambitious roadmap built upon our ongoing commitment to craft, innovation, service excellence and ultimately reconnecting with our brand purpose of empowering customers to feel exceptional everyday.”