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Clarks calls in advisers

Clarks has appointed management consultancy firm McKinsey & Co to help review the business.

McKinsey & Co will help with a “transformation” of the footwear retailer. Clarks has 553 shops in the UK and Ireland, and almost 12,000 employees.

In a statement, Clarks said that the appointment was part of a wider plan to grow the business’ underlying profitability, and would focus on supporting the strategy of ”renewing the relevance of our brand to consumers and our partners”.

A spokeswoman for Clarks added: “At this stage, we are unable to share any specific details of this strategy, however, we can confirm that we are transforming the brand to reconnect with our consumers by designing iconic new products and launching an exciting new brand and marketing strategy that is already engaging consumers across the world.”

”Our new strategy will allow the business to capitalise on the momentum that our Clarks Originals products such as the Desert Boot and Wallabee are experiencing, and to meet our ambition of returning the business to sustainable levels of growth and profitability by 2023.”

Clarks finance director Paul Kenyon has also left the business, and will be replaced by Philip de Klerk, former chief executive of materials maker Low & Bonar.

Clarks was said to be seeking rent cuts of up to 30% from landlords this summer, as it evaluates its property portfolio. It appointed a new CEO and added to its board earlier this year.

In January the retailer announced its UK factory in Street, Somerset, could close after failing to meet manufacturing and cost targets.

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