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Australia's Witchery Group to shut Mimco UK outlets
Mar '12
In adherence with its "a re-focus in channel strategy", Australia's fashion retailer Witchery Group has decided to shut all its UK-based Mimco concessions and standalone retail outlets.

The move has been persuaded by the retailer's decision to focus on its online sales, which have been rising in both northern and southern hemispheres.

According to Witchery Group CEO Iain Nairn, UK's financial conditions played a major part in the company's latest decision.

He said that their business and brand strategy requires them to basically invest in retail markets which are headed for future growth, and hence they are diverting their focus and efforts to tap the markets that satisfy these conditions.

The Mimco brand, which was introduced in the UK in 2008, now operates 14 House of Fraser concessions and 9 boutiques there. As stated by Nairn, the firm would wind up its UK retail operations in a phased manner, so as to minimise its effect on staff as well as other stakeholders.

Mimco would, however, retain its presence in the UK through its online boutique, which has met great success since its launch in the Northern Hemisphere in August 2010.

Nairn said they still look forward to serve the UK customer, but now this would be done through their online boutique, which ensures delivery in a day's time to almost any part of the world.

Mimco will continue to operate its retail boutique network in Singapore, Australia and New Zealand.

Fibre2fashion News Desk - India

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