The chief executive of fast fashion womenswear brand Lost Ink has revealed a new direction for the business under its new leadership team.
Lost Ink was sold to one of its suppliers, Hong Kong-based manufacturer JC Fashion, in April last year. Clothing manufacturer JC Fashion, which has worked with Lost Ink since its launch in 2014 and also supplies Asos (Private Label) and Monsoon, acquired the rights to the trademark on 1 April.
It came after accountancy firm PwC was appointed in March to conduct an orderly winding-down of the company’s operations. It did not go into administration.
“We have made quite a lot of significant changes in the last six months to its operations and re-building the Lost Ink brand”, Charles Choi, Lost Ink Group CEO and director of JC Fashion Group, told Drapers.
The company has moved its sourcing operations, including merchandising and supply chain team, from the UK to China. Lost Ink’s original buying and design team remain in the UK.
Choi said: “We have transformed the brand handwriting to be more trend-led and successfully launched a couple of new ranges onto some new platforms. We have kicked this off by doing [collaborations] with well-known [influencers] such as Olivia & Alice, the Collyer Twins and Hana Cross. Their collections will be exclusively sold on Asos to begin with [at an undisclosed date].
“With our strong supply chain management background, development and manufacturing facilities, we are looking to work with more talent and this will be extended to designers and buyers, to give them a chance to create a brand or crossover with us. Together with re-launching the Lost Ink website in March this year, we truly believe it could be a good opportunity and another milestone in raising up Lost Ink’s profile in the fashion industry worldwide.”
Lost Ink currently has 14 stockists in Europe, including Asos, Zalando, Next, Very and Amazon. The brand will also be stocked on Stitch Fix, Silkfred, Maltese, Evans, Fashion Days and OK Fashion by spring 2020.
It also has a further 19 stockists outside of Europe, including Anthropologie, Bloomingdales and Nordstrom in the US.
“We trust this set up will enable us in the best position to deliver ‘Speed to Market’ module”, Choi added. “We look forward to watching the business continue to thrive, inspire and delight our customers and lead the way for innovation under this new leadership.”
Lost Ink was founded by Karina Mitchell, who was formerly international buying manager for River Island, and her business partner Tilmann Roth, who previously worked at Boston Consulting Group.
Lost Ink was previously part of Global Fashion Group (GFG), which operates fashion ecommerce platforms Dafiti, LaModa, Namshi, Zalora and The Iconic.