Managed refurbishment sale to facilitate conversion of stores to concession outlets and obsolete stock disposition.

A sensitive refurbishment sale theme was developed and implemented to clear merchandise without damaging Maison de Bonneterie’s brand equity.  The upmarket fashion stores undertook a strategic initiative to reduce risk and financial exposure with a decision to convert its two main stores to concession outlets and to close a further, underperforming store.  Given the high end fashion brand stock, including Armani, Hugo Boss and Dolce & Gabbana, it was crucial to preserve brand equity, with sensitive marketing to radio and press alongside the sale.  In addition to this, we successfully processed the disposition of aged and obsolete stock across the entire business, generating sales over 50% higher than planned.  Our consultants worked full-time in the three stores to maintain strong client relationships, which were enhanced by additional discount events for staff friends and family.  As stock was cleared and space created in store, areas were reclaimed for the concession fits to be carried out, ensuring a smooth transition to the new business model with no suspension of trading required.  The entire deal was structured on a success-fee basis with a sliding scale initiating once a minimum sales target was achieved.  Once complete, the overall recovery value attained was considerably in excess of the highest scheduled level.