House of Fraser is set to renew its product and trade strategy, whereby it will shift its focus to “offer the best selection of contemporary brands”.
The beleaguered department store retailer said the refresh marks a significant step in its overall transformation strategy, and will place more emphasis on exclusive products and partnerships as well as trend agility.
House of Fraser will invest in trend-spotting and product innovation capabilities alongside its recently-launched globally responsive supply chain.
“Since joining House of Fraser, I have worked with the team to review our current product offering and what became crystal clear is our customers love brands,” chief product and trading officer David Walker-Smith said.
“Customers now want more from their shopping experience and as a business, we need to make sure we are exceeding expectations. I’m really looking forward to embarking on this new chapter for the business and working with both our existing and new partners to bring an exciting proposition to stores and online.”
The news comes ahead of a crucial day on House of Fraser’s CVA today, whereby creditors will vote on the proposals that include 31 stores closures and 6000 job cuts.
The CVA can only be implemented once approved by at least 75 per cent of creditors.
Chief executive Alex Williamson previously warned that the heritage department store chain would face collapse if its CVA proposals were to be rejected.