Young branded fashion chain Republic told Drapers it did not have enough stock to go on Sale with the rest of the high street, which is likely to render it a less compelling option for shoppers over the coming weeks.
Chief executive Tim Whitworth said: “We’ve not got the stock to go on Sale. We don’t intend to start our new ranges until August 1. We’re going to hold tight until the weekend before [July 30, before going on Sale].”
Republic, which stocks brands including Diesel, Henleys, Firetrap and Police, many of which are also readily available in department stores, is likely to feel the pinch in the wake of markdowns at House of Fraser. Even independent retailer competitors, who are traditionally the last businesses to go on Sale, have been forced into early discounting by the high streetthis season.
Whitworth this week denied that Republic planned to close stores but conceded it had revised its total store ambitions down from 250 to 200 openings. It has about 110 shops at present. Expansion plans are understood to have been slowed because of strong growth on the retailer’s transactional website.
Separately, Republic’s finance director Ed Bennison has left the business. Republic is understood to be close to announcing a replacement.