Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Monsoon enters FPB "hall of shame" after squeezing supplier terms

Fashion multiple Monsoon Accessorize is being put into a “hall of shame” by the Forum of Private Business for squeezing its suppliers on terms.

The business has increased its payment times from 60 to 90 days and told suppliers they will be subject to a mandatory 4% invoice discount. Suppliers who take on a greater discount, payment is being promised more quickly, for example those who accept a 10% discount will be paid within seven-10 working days of goods received.

Spokesman Robert Downes said: “Monsoon is hitting new suppliers with a double whammy here. First they increase payment times to 90 days from an already pedestrian 60. Then they slap on an outrageous 4% supplier invoice discount charge. Just exactly what planet are they on in the current economic climate?”

 “At the end of the day, if supply chain prices are forced up as a result, it’s the consumer – Monsoon customers – who end up paying for their greed.”

The Forum has written to the company’s interim managing director Steve Black requesting him to reverse the decision and sign the association’s prompt payment code, pledging to pay suppliers on time and not to change conditions during a contractual period.  

Other retailers in the FPB’s “hall of shame” include Sainsbury’s and GlaxoSmithKline.

Monsoon was unable to comment at the time of publication.

Readers' comments (4)

  • There's a simple answer here - Don't supply them. If suppliers cave in - as they often do - they only have themselves to blame. They need to be brave and say no. Very loudly.

    Unsuitable or offensive? Report this comment

  • Same old story-The 'big' buyer hits the 'small' supplier. Whatever happened to working together with your suppliers?

    Normally extending your terms like this is a sign of a retailer in trouble-with not enough cash to pay on time.

    I've seen this before-we will wait and see if it turns out to be the case.

    Unsuitable or offensive? Report this comment

  • We have worked with Monsoon in the past. The ruthlessness has always been there... unfortunately this is not a "one of a kind" example from the High Street.

    Unsuitable or offensive? Report this comment

  • Drapers should investigate Monsoon more carefully they have now asked each supplier to fill out a costing form to show how much they are making. They want a detailed breakdown of overheads and % profit! This along with their terms of payment and discount makes them one of the most unattractive retailers to work with.
    I always thought it was a partnership supplying a retailer but Monsoon are incredibly ruthless and someone needs to speak up and investigate. Come on Drapers you can do it!

    Unsuitable or offensive? Report this comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.