Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

New boss to shake up Cruise brand mix

Cruise has outlined plans to shake up the designer mini-chain’s brand mix and support emerging designers following the resignation last week of buying director Martin Lacey.

Speaking publicly for the first time since taking the helm in October following the departure of managing director John Heath, Cruise chief executive James Pow said he planned a radical overhaul of the business.

For autumn 10, Pow will bring in more emerging designers with a profile “similar to Christopher Kane” who have had “at least two strong commercial seasons”.

He said Cruise’s budget for some undisclosed brands would be reduced and that a small number “at the entry-level price range” would be dropped following feedback that Cruise, which built its business around super-brands such as Gucci, Prada and Giorgio Armani, had become “too high street”.

Pow said: “The big brands will always have a presence but we would be foolish not to pick up emerging, edgier, younger brands.”

Pow will not close any of the retailer’s 11 stores and said they would be rebranded to focus either on mainline or denim ranges, with some being rebranded to the Cruise Jeans fascia.

Cruise has the potential to “double turnover within the next three years”, said Pow. He expected turnover for the financial year ended January 2010 to be about £27m with EBITDA in positive territory.

Pow is seeking a replacement for Lacey at the business, which went into pre-pack administration in May.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.