Monsoon Accessorize

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Monsoon Accessorize Ltd.
Type High Street Retailer
Founded 1973
Founders Peter Simon
Headquarters London, United Kingdom
Products Women's Apparel, Kids Apparel, Accessories, Homeware.
Owners Peter Simon
Divisions Monsoon. Accessorize.
Website

Monsoon website

Accessorize website
A Sutton, Surrey, Accessorize shop.

Monsoon Accessorize is a design-led retailer based in London, operating two international retail clothing chains - Monsoon and Accessorize [1]

Corporate history[edit]

It was founded in Beauchamp Place,[1][2] Knightsbridge, London in 1973,[1][2][3][2][3][4] by Peter Simon[disambiguation needed].[2][3][4]

Accessorize evolved in the early 1980s as an a novelty fashion accessories in an adjoining shop to the Monsoon, Covent Garden Piazza branch.[5][5] [6][6]

In May 1999, the Monsoon Home line was launched its first shop in Kings Road, London. The range incorporates the Monsoon look and philosophy creating an innovative and individual home accessories range.[5][6]

In 2001, Monsoon Baby line was launched as was Accessorize Angels.[5][6]

2003 Monsoon Boy line was launched with Monsoon Men line following in the autumn of 2004.[5][6]

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.[7][8]

In the UK and Republic of Ireland sales had dropped 10%. The firm's international sales, excluding Russia, dropped 21% to £16.8 million.[7]

Total corporate sales had risen by 4.3% to £552m in the financial year up to August 31, 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.[9][10][11]

Management[edit]

Monsoon Accessorize's chief executive, as of 2014, is John Browett.[11]

Suppliers[edit]

They have worked with many of there South Asian and Afghan suppliers for over 20 years, by 2014.[2][12][13]

Stores[edit]

There were 388 Monsoon and Accessorize stores in the United Kingdom and Ireland by 2013 [5][6] and 400 in the and over 1,000 throughout the world by 2014.[1] They are in the UK, Ireland, France, Australia, Austria, Germany, Russia,Australia, Brazil, The Czech Republic, Denmark, France, Greece, Gibraltar, Iceland, Italy, Lebanon, Malta, the Middle East, The Netherlands, Norway, Portugal, Russia, Saudi Arabia, Singapore, South Africa, Spain, Sweden, Switzerland and UAE.[1][1][5][6]

Charity work[edit]

The Monsoon Accessorize Trust, to help women and children in Asia.[1][2] Charity projects for 2013, including a project to help revitalise the local silk cultivation industry in post-Taliban Afghanistan.[2]

Monsoon became a leader in forming the Ethical Trading Initiative (ETI) [14][15] after the 2013 Savar building collapse[14][15] due to structural integrity and failure.

Green issues[edit]

Monsoon has only ever used humanly grown angoras wool. [5][6]

Corporate awards[edit]

It won the Queen’s Award in Enterprise for International Trade.[1]

Criticism[edit]

Building collapse at Savar[edit]

On 24 April 2013, the eight-story Rana Plaza commercial building collapsed in Savar, a sub-district near Dhaka, the capital of Bangladesh. At least 1,127 people died and over 2,438 were injured.[16] The factory housed a number of separate garment factories employing around 5,000 people, several shops, and a bank[17] and manufactured apparel for brands including the Benetton Group, Joe Fresh,[18] The Children's Place, Primark and DressBarn.[19][20] Of the 29 brands identified as having sourced products from the Rana Plaza factories, only 9 attended meetings held in November 2013 to agree a proposal on compensation to the victims. Several companies refused to sign including Walmart, Carrefour, Mango, Auchan and Kik. The agreement was signed by Primark, Loblaw, Bonmarché and El Corte Ingles.[21]

Supplier payment practices[edit]

It emerged in 2013, that it charged suppliers a rebate of up to 4% on all invoices as well as a further charge of up to 10% for early payment.[22] It was later revealed that it also charged suppliers a rebate of up to 4% on all invoices in 2012 and 2013.[22] The UK high-street based retailer was criticised in 2013 by the British Forum for Private Business over changes to its payment terms and charges on suppliers.[23]

References[edit]

  1. ^ a b c d e f g h http://uk.monsoon.co.uk/view/content/our-company
  2. ^ a b c d e f g "Heritage". Uk.monsoon.co.uk. Retrieved 2014-05-03. 
  3. ^ a b c Laura Heywood (2013-08-21). "MONSOON: Latest news, analysis and comment on Monsoon". Retail Week. Retrieved 2014-05-03. 
  4. ^ a b "Monsoon - company history". Web.archive.org. 2006-04-23. Retrieved 2014-05-03. 
  5. ^ a b c d e f g h "Monsoon - company history". Web.archive.org. 2006-04-23. Retrieved 2014-05-04. 
  6. ^ a b c d e f g h "Heritage". Uk.monsoon.co.uk. Retrieved 2014-05-04. 
  7. ^ a b "Monsoon Accessorize reports "most difficult year"". Retail Gazette. Retrieved 2014-05-03. 
  8. ^ Gallagher, Victoria (2013-08-06). "Monsoon Accessorize to change staff hours | News | Drapers". Drapersonline.com. Retrieved 2014-05-03. 
  9. ^ "Monsoon Accessorize turnover soars 4.3 percent in FY'13 - Fashion - Fashion-news". Fashionunited.co.uk. 2014-02-07. Retrieved 2014-05-03. 
  10. ^ "Monsoon and Accessorize founder invests in furniture retailer Loaf". Growthbusiness.co.uk. 2014-01-15. Retrieved 2014-05-03. 
  11. ^ a b "Monsoon back in the black as former Apple boss boosts sales". Telegraph. Retrieved 2014-05-03. 
  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. ^ a b "Ethical Trading". Uk.monsoon.co.uk. Retrieved 2014-05-05. 
  15. ^ a b "About ETI | Ethical Trading Initiative". Ethicaltrade.org. Retrieved 2014-05-05. 
  16. ^ Ahmed, Saeed; Lakhani, Leone (14 June 2013), "Bangladesh building collapse: An end to recovery efforts, a promise of a new start", CNN, retrieved 16 December 2013 
  17. ^ Zain Al-Mahmood, Syed (24 April 2013). "Matalan supplier among manufacturers in Bangladesh building collapse". The Guardian (London). Retrieved 21 October 2013. 
  18. ^ 'Extreme Pricing' At What Cost? Retailer Joe Fresh Sends Reps To Bangladesh As Death Toll Rises - Forbes
  19. ^ Nelson, Dean (24 April 2013). "Bangladesh building collapse kills at least 82 in Dhaka". The Daily Telegraph (London). Retrieved 24 April 2013. 
  20. ^ Alam, Julhas (24 April 2013). "At least 87 dead in Bangladesh building collapse". USA Today. Retrieved 24 April 2013. 
  21. ^ Ovi, Ibrahim Hossain (2013), Buyers' compensation for Rana Plaza victims far from reality, retrieved 16 December 2013 
  22. ^ a b "Monsoon Accessorize criticised for mandatory supplier rebate". PrintWeek. Retrieved 2014-05-03. 
  23. ^ "Monsoon faces criticism over supplier terms". Just-style.com. 2013-02-25. Retrieved 2014-05-03. 

External links[edit]