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Pretty Green, the men’s fashion brand and high-street chain founded by Oasis frontman Liam Gallagher, has announced a profit for the first time since launching six years ago. With stores in the UK and Japan, sales reached £15.1 million, up 38%, generating pre-tax profits of £43,000 in 2014, compared with a £2 million loss a year earlier. It is anticipated these results will make a strong case to support the company’s recently announced fundraising drive as it looks to continue its expansion both in the UK and internationally.
The results show growth came from both retail sales and its wholesale business, which sells through various department stores and independent retailers across the UK.
Originally launched in 2009, the menswear brand aims to “unite people through a love of music and fashion” essentially targeting the iconic founder’s peer group. Despite disappointing financial results. Pretty Green has consistently been recognised for its ongoing innovation as a brand committed to authenticity and relevancy for its customer base. Customer experience drives much of this.
In 2010 Pretty Green won Drapers menswear Brand of the Year Award, followed by the "Best E-tail Marketing Award" in 2011. In 2009 it announced expansion into Japan and more recently has announced further growth of six concessions in House of Fraser stores across the UK.
Other innovations include launching the virtual fitting room Fits.me on its online store. Aligning fashion and technology, Pretty Green has seen its online conversion rates soar since deploying the virtual fitting room solution, enabling customers to get a real feel for the style and brand.
2012 saw the introduction of one-touch payment technology “Simply Tap” into its new mobile store, enabling easier customer use through this enhanced e-commerce solution. With mobile technology fast becoming the leading method for retail purchases, Pretty Green is paving the way for its customers to be more connected and engaged with the brand, as it shares its ‘rock and roll, I want it now’ attitude.
Furthermore, Pretty Green has used Simply Tap to sell accessories via Facebook and exclusive tickets to music-themed events. Another innovative use of Simply Tap was Pretty Green’s launch of pop-up virtual record stores in its shop windows, in association with Universal Music. Through the ‘Vinyl Revolution’, the brand captured the resurgence of vinyl and the role of the record store as the epicentre of personal style.
The online pop-up shop is open 24 hours a day via all the Pretty Green high street stores allowing customers to choose from a dozen hand picked records, through the online app.
Speaking about the virtual record stores, Pretty Green’s Brand Director Nigel Grant said, "Through our label we strive to bring style, culture and music from past decades firmly into the future. We feel that by providing the virtual vinyl outlets in store is a further complement to our brand and ideals."
With web sales accounting for more than 20% of total revenues, online has played a key part in Pretty Green moving into profitability. It’s a part of the business we’ll watch with interest as this brand moves into its next growth phase.
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