Luxury cashmere retailer N Peal has drafted in former Hobbs managing director Nick Samuel as non-executive director to advise on its aggressive expansion plans, which will kick off with the launch of a debut wholesale range for autumn 10.
N Peal managing director Adam Holdsworth said: “Our turnover is currently £3.5m and I think we can double that in the next two years through wholesale and retail expansion.”
The 50-piece wholesale collection for men and women will include cardigans, jumpers, coa8ts and accessories such as scarves and gloves. Textured knits will feature heavily, as will rabbit fur trims.
High-end pieces will come in muted grey, brown and ivory tones, while stronger colours including reds and pinks will dominate the lower-priced pieces.
Wholesale price points will range from £50 for super-fine draped cardigans to £350 for hand-knitted, textured cardigans and coats.
N Peal is also to target high-end department stores and independent retailers in London and the Southeast with the range. It plans to roll out the collection across the country from spring 11.
Samuel is also advising N Peal on potential targets for retail growth. The retailer currently operates a flagship in London’s Burlington Arcade and two discount stores in Bicester Village and Kildare Village, Republic of Ireland.
Holdsworth said there was potential to expand in London and the Southeast through both standalone stores and department store concessions.
Holdsworth said: “We’re looking at London and the Home Counties but, as brand awareness grows, there is potential to go national. Edinburgh and Manchester would be good markets for us.”