Home / Knowledge / News / Apparel/Garments / Kidswear retailer Pumpkin Patch to continue cost-cutting
Kidswear retailer Pumpkin Patch to continue cost-cutting
26
Nov '11
New Zealand-based childrenswear retailer Pumpkin Patch would continue with its cost-cutting exercise, by shutting down its underperforming outlets, in view of the prevailing difficult trade conditions.

Last year, the company lost US$ 1.8 million as it closed all its US outlets and tried to revive its ailing UK business. The company has also been countering the issue of low demand, which too is inducing it to cut costs.

As stated by the listed company's newly appointed Chief Executive, Neil Cowie, they are even branching out into low-cost segments, including international wholesale trade and launch of a new website - Patch General Store.

According to Mr. Cowie, in this era of competition, if one does not consider being a multi-channel retailer, it is going to be much difficult to survive and move forward.

The international wholesale segment necessitates only a limited capital and is comparatively more appealing, he says, as the domestic retail partners incur the expenses for shop and possess the leases, while Pumpkin Patch only shares its design and logistic know-how.

Meanwhile, the company Board has consented to exercise a total cut of NZD 130,000 in fees of the Directors, to contribute towards sharing the burden of cost-cutting.

Pumpkin Patch predominantly sells through its own store network in New Zealand, Australia, the United Kingdom, Ireland and the United States.

Fibre2fashion News Desk - India


Must ReadView All

Ghana makes tax stamp compulsory on imported textiles

Textiles | On 27th May 2018

Ghana makes tax stamp compulsory on imported textiles

To curb illegal imports, Ghanaian authorities will put a tax stamp on ...

Courtesy: Vishal Mega Mart

Apparel/Garments | On 27th May 2018

Partners Group, Kedaara Capital taking over VMM

Partners Group, a private markets investment manager, and Kedaara...

Courtesy: Deckers

Apparel/Garments | On 27th May 2018

Deckers Brands sales soar 8.4% in Q4FY18

Deckers Brands, a global leader in designing, marketing and...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Urmil Arya

Sushila International, a well established textile organisation established ...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search