Monsoon Accessorize CVA challenge ends, new digital director joins
There was plenty of news swirling around Monsoon Accessorize on Friday as it emerged that landlord British Land has dropped its legal challenge to the company’s CVA and also that the fashion retailer has appointed a new digital director.
The British Land challenge had posed a threat to the CVA but the company that owns the giant Meadowhall shopping centre in Sheffield has now withdrawn its objections. It means Monsoon can proceed with its plan that will see rent cuts of between 25% and 65%, making a little over half of its 258 UK shops more affordable to run. The terms of the agreement with British Land haven’t been made public.
Meanwhile, other positive news emerged with the company having appointed Laura Harricks as its new digital director. She has already joined and had previously been with Dixons Carphone.
It’s a key role at the company that is working hard to drive the percentage of sales it makes through e-tail much higher. Part of this drive has been the implementation of technology from order management specialist OneStock.
The tech allows consumers to order items online and have their orders fulfilled using stock in stores as well as in warehouses. Monsoon had said the tech generated an additional £1.4 million in revenue for the company in its first month alone.
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