Premium womenswear brand Ghost is set to axe its department store concessions and lower its prices.
Owner Touker Suleyman, who rescued the business from administration in October 2008, declined to go into detail about the changing nature of Ghost’s relationship with its concession partners but said he was “doing deals” with them that would mean it would continue to have a presence in the stores, possibly through wholesale arrangements.
Ghost has six standalone stores and 16 concessions – mostly in department store chain House of Fraser – and has undergone a radical overhaul since Suleyman acquired it. He revived Ghost’s wholesale collection for spring 10 after previous owner Kevin Stanford axed it in 2007, and has plans to turn Ghost into a lifestyle business to compete with the likes of The White Company and Anthropologie.
Suleyman added that Ghost’s retail prices would be reduced by about 20% for spring 10, meaning they will range from £30 to £200. The full impact of price cuts will filter through by summer 2010.
He added that the product range would also evolve for next season. Ghost will extend its garment-dyed fabrication process – in which garments are made up in un-dyed fabrics and then dyed on completion – to other fabric areas including silks and linen, and make use of prints and introduce jerseywear.
He said: “The brand can be extended to other fabric areas to give the customer a wider offer.”
Suleyman will open a new concept shop in London in January that will house the retailer’s full offer including homeware and bedding, which is part of its new lifestyle strategy.
“Looking at where the market is out there, there is too much competition in womenswear,” he said. “Ghost has to have a point of difference.”
Suleyman will also relaunch the Ghost website in January.