Blue Inc has appointed Just Consultancies as its first sales agent as part of the young fashion retailer’s strategy to ramp up its wholesale presence in the UK and overseas for spring 15.
The British retailer, which scrapped its flotation plans in June amid fears investor appetite for IPOs had dwindled, will initially target 10 to 15 retailers in its domestic market, including Asos, Shop Direct and Zalando. Blue Inc launched wholesale in the UK 18 months ago, although this was just on a small scale with just “a few orders made”.
The wholesale push will focus on its six brands - Blue Inc, Officers Club, Twisted Soul Heritage, TS (the new name for Twisted Soul), Industrialize and Mossimo. Blue Inc owns all the brands except Mossimo, for which it has a licence to wholesale.
Through the partnership with Just Consultancies, Blue Inc will initially target up to 15 stockists in regions such as the Far East, Scandinavia and Germany. The company launched overseas wholesale 18 months ago, and has clocked up four stockists in Nigeria, Eastern Europe and Georgia.
Blue Inc also has a growing retail presence overseas, with five franchise stores in the Baltics and two in Malaysia having opened within the past two years. It has plans to open stores in South America at an undisclosed date in the future.
Just Consultancies will handle wholesale in the UK and overseas.
Blue Inc chief executive Steven Cohen told Drapers: “We wholesale in the UK and overseas but this is the first time that we’re really driving it. We see third-party partnerships as an exciting additional revenue stream. When it comes to the young fashion market, particularly streetwear, we see ourselves as providing a highly differentiated offer compared to our competitors.”
Blue Inc revealed in June that it had decided not to launch an IPO, instead choosing to place shares privately with new investors. Cohen said the plan was to complete this private share funding shortly after the summer.