Monsoon Accessorize

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Monsoon Accessorize Ltd.
High Street Retailer
Founded 1973
Founder Peter Simon
Headquarters London, United Kingdom
Products Women's Apparel, Kids Apparel, Accessories, Homeware.
Owner Peter Simon
Divisions Monsoon. Accessorize.
Website www.monsoon.co.uk
www.accessorize.com
A Sutton, London Accessorize shop.

Monsoon Accessorize is a British private limited company. It has a London registered address, and operates two international retail clothing chains - Monsoon and Accessorize [1][2]

History[edit]

Monsoon was started in London in 1973 by Peter Simon, a market-stall trader, and opened its first shop in Beauchamp Place in May of that year.[3][4][5][6] The first Accessorize shop opened in 1984, next door to Monsoon in Covent Garden.[6][7] In 2014 the company had about 1400 stores in 74 different countries.[3]

Monsoon Accessorize went into negative fiscal growth in 2013 what founder Peter Simon described as the “most difficult time” in the retailer’s 40-year history as it announced a 12 per cent decline in group sales to £529 million over that full financial year.[8][9]

In the UK and Republic of Ireland sales had dropped 10%. The firm's international sales, excluding Russia, dropped 21% to £16.8 million.[8]

Total corporate sales had risen by 4.3% to £552m in the financial year up to 31 August 2014, so driving the group from a pre-tax loss of £2.4m in 2012 to a pre-tax profit of £18.1m in 2014.[10][11][3]

John Browett, former head of retail at Apple, became chief executive in early 2013.[3]

As of 2014, they had worked with many of their South Asian and Afghan suppliers for over 20 years.[4][12][13]

The Monsoon Accessorize Trust, to help women and children in Asia.[2][4] Charity projects for 2013, including a project to help revitalise the local silk cultivation industry in post-Taliban Afghanistan.[4]

Monsoon was an early corporate member of the Ethical Trading Initiative.[14][15][16]

According to the company, Monsoon has only ever used humanely grown Angora wool. [6][7]

Criticism[edit]

In 2013 the Forum of Private Business criticised Monsoon for requiring all new suppliers to give a blanket rebate of up to 4% on all invoices as well as a further charge of up to 10% for early payment.[17][18]

References[edit]

  1. ^ Company Details: 01098034, Monsoon Accessorize Limited. Companies House. Accessed January 2015.
  2. ^ a b http://uk.monsoon.co.uk/view/content/our-company.
  3. ^ a b c d Graham Ruddick (7 February 2014). Monsoon back in the black as former Apple boss boosts sales. The Telegraph. Accessed January 2015.
  4. ^ a b c d "Heritage". Uk.monsoon.co.uk. Retrieved 3 May 2014. 
  5. ^ Laura Heywood (21 August 2013). "MONSOON: Latest news, analysis and comment on Monsoon". Retail Week. Retrieved 3 May 2014. 
  6. ^ a b c "Monsoon - company history". Web.archive.org. 23 April 2006. Retrieved 3 May 2014. 
  7. ^ a b "Heritage". Uk.monsoon.co.uk. Retrieved 4 May 2014. 
  8. ^ a b "Monsoon Accessorize reports "most difficult year"". Retail Gazette. Retrieved 3 May 2014. 
  9. ^ Gallagher, Victoria (6 August 2013). "Monsoon Accessorize to change staff hours | News | Drapers". Drapersonline.com. Retrieved 3 May 2014. 
  10. ^ "Monsoon Accessorize turnover soars 4.3 percent in FY'13 - Fashion - Fashion-news". Fashionunited.co.uk. 7 February 2014. Retrieved 3 May 2014. 
  11. ^ "Monsoon and Accessorize founder invests in furniture retailer Loaf". Growthbusiness.co.uk. 15 January 2014. Retrieved 3 May 2014. 
  12. ^ "Ethical Trading". Uk.monsoon.co.uk. Retrieved 2014-05-03. 
  13. ^ "Women & children's clothing | Free Returns & UK Delivery". Uk.accessorize.com. Retrieved 2014-05-03. 
  14. ^ Susanne Schaller (2007). The Democratic Legitimacy of Private Governance. An Analysis of the Ethical Trading Initiative. Duisburg: Institute for Development and Peace, University of Duisburg‐Essen. INEF Report 91. ISSN 0941‐4967. p. 18.
  15. ^ "Ethical Trading". Monsoon Accessorize. Retrieved 5 May 2014. 
  16. ^ "About ETI". Ethical Trading Initiative. Retrieved 5 May 2014. 
  17. ^ "Monsoon Accessorize criticised for mandatory supplier rebate". PrintWeek. Retrieved 3 May 2014. 
  18. ^ "Monsoon faces criticism over supplier terms". Just-style.com. 25 February 2013. Retrieved 3 May 2014. 

Media related to Accessorize at Wikimedia Commons