New Look, a long-standing UK fashion brand, is closing 41 of its physical stores across the country and offering discounts of up to 70% to clear remaining stock. This move is part of a strategic shift towards an online-focused business model, with over 40% of its revenue already generated through internet sales.
The company emphasizes its commitment to an "omni-channel" approach, integrating its physical and digital presence to enhance customer experience. Despite the closures, CEO Helen Connolly expressed confidence in New Look's future, citing its strong position as a "leading broad appeal fashion destination" with a history of over 50 years.
The company has invested significantly in its online platform and is upgrading selected physical stores to support its evolving strategy.