Meg Lustman has been fashioning a turnaround at premium womenswear retailer Hobbs since joining in September 2014. Turnover fell 5.7% to £109m in the year to 30 January, but EBITDA rose 18% to £ 7.7m thanks to its strategy to reduce discounting and sell more at full price.
Lustman has focused Hobbs’ collections on three end uses: workwear, occasionwear and smart casual, while expanding its range of trans-seasonal pieces to better suit unpredictable weather. She is also expanding the chain internationally, with new concessions in the US and Germany, as well as launching online via Zalando.
Her strategy still has another few years to run, but Lustman is confident she is positioning Hobbs for the future.