Monsoon Accessorize
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| Company type | High Street Retailer |
|---|---|
| Founded | 1973 |
| Founder | Peter Simon |
| Headquarters | , |
| Products | Women's Apparel, Kids Apparel, Accessories, Homeware. |
| Owner | Peter Simon |
| Divisions | Monsoon. Accessorize. |
| Website | Monsoon website Accessorize website |
Monsoon Accessorize is a design-led retailer based in London, operating two international retail clothing chains - Monsoon and Accessorize [1]
Corporate history
It was founded in Beauchamp Place,[1][2] Knightsbridge, London in 1973,[1][2][3][2][3][4] by Peter Simon.[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]
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 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.[9][10][11]
Management
Monsoon Accessorize's chief executive, as of 2014, is John Browett.[11]
Suppliers
As of 2014, they had worked with many of their South Asian and Afghan suppliers for over 20 years.[2][12][13]
Stores
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, Syria and the UAE.[1][1][5][6]
Corporate Responsibility and Charity Work
The company charity, the Monsoon Accessorize Trust, was set up in 1994 to help women and children in Asia.[1][2] Charity projects for 2014 included a project to help revitalise local silk cultivation in Afghanistan, an immunisation programme in rural India and a project to help girls who have suffered from abuse in Sri Lanka. The charity reports that it reaches over 10,000 women and children in Asia every year. www.monsoontrust.org
Monsoon became a leader in forming the Ethical Trading Initiative (ETI), set up in 1999, and all its suppliers are required to commit to the Monsoon Accessorize Code of Conduct. This is based on the ETI Base Code and sets minimum standards relating to health & safety, working hours, wages and other factors such freedom to join a trade union.[14][15] [14][15]
Animal welfare issues
According to the company, Monsoon ceased using angora wool in its production from November 2014 Angora wool. [5][6] The company states that it operates a strict policy of zero-tolerance towards abuse and maltreatment of animals in its supply chain and does not use real fur.
Corporate awards
It won the Queen’s Award for Enterprise for International Trade.[1]
Criticism
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.[16][17] A spokesman for the retailer, quoted in Retail Week, said: “Monsoon Accessorize values all supplier relationships and aims to build them over the long term and to the benefit of all parties. Monsoon Accessorize has agreed discounts with its trading partners over the years which vary from time to time and help drive growth and sustainability for the business and its suppliers.”
The Monsoon website states that it values long-term sustainable relationships with suppliers and has worked with many of its suppliers for over 20 years.
References
- ^ a b c d e f g http://uk.monsoon.co.uk/view/content/our-company
- ^ a b c d e "Heritage". Uk.monsoon.co.uk. Retrieved 3 May 2014.
- ^ a b c Laura Heywood (21 August 2013). "MONSOON: Latest news, analysis and comment on Monsoon". Retail Week. Retrieved 3 May 2014.
- ^ a b "Monsoon - company history". Web.archive.org. 23 April 2006. Retrieved 3 May 2014.
- ^ a b c d e "Monsoon - company history". Web.archive.org. 23 April 2006. Retrieved 4 May 2014.
- ^ a b c d e "Heritage". Uk.monsoon.co.uk. Retrieved 4 May 2014.
- ^ a b "Monsoon Accessorize reports "most difficult year"". Retail Gazette. Retrieved 3 May 2014.
- ^ Gallagher, Victoria (6 August 2013). "Monsoon Accessorize to change staff hours | News | Drapers". Drapersonline.com. Retrieved 3 May 2014.
- ^ "Monsoon Accessorize turnover soars 4.3 percent in FY'13 - Fashion - Fashion-news". Fashionunited.co.uk. 7 February 2014. Retrieved 3 May 2014.
- ^ "Monsoon and Accessorize founder invests in furniture retailer Loaf". Growthbusiness.co.uk. 15 January 2014. Retrieved 3 May 2014.
- ^ a b "Monsoon back in the black as former Apple boss boosts sales". Telegraph. Retrieved 3 May 2014.
- ^ "Ethical Trading". Uk.monsoon.co.uk. Retrieved 3 May 2014.
- ^ "Women & children's clothing | Free Returns & UK Delivery". Uk.accessorize.com. Retrieved 3 May 2014.
- ^ a b "Ethical Trading". Uk.monsoon.co.uk. Retrieved 5 May 2014.
- ^ a b "About ETI | Ethical Trading Initiative". Ethicaltrade.org. Retrieved 5 May 2014.
- ^ "Monsoon Accessorize criticised for mandatory supplier rebate". PrintWeek. Retrieved 3 May 2014.
- ^ "Monsoon faces criticism over supplier terms". Just-style.com. 25 February 2013. Retrieved 3 May 2014.
External links
