Industry insiders have said New Look will be able to refocus on its customer needs after its year-long search for a chief executive ended this week, industry experts have said.
Bestseller Group’s vice chief executive Anders Kristiansen will join New Look as its new chief executive on January 7.
Bestseller operates brands including Vero Moda and Jack & Jones, with Kristiansen currently based in China.
Honor Westnedge, senior analyst at Verdict Research, said Kristiansen had a “good reputation” and will have a “good idea of who New Look should target”.
She added: “New Look has lost focus on who their customer is. He will need to have a look at which parts of the market are underserviced.”
Rivals such as Primark and H&M have been stealing market share while New Look has “failed to differentiate itself”, she added.
Freddie George, analyst at Seymour Pierce, agreed Kristiansen was a strong hire, saying he would instantly “put his stamp” on the retailer.
One retail headhunter said the appointment of someone from a branded business could signal New Look’s commitment to “segment its collections into something that more closely resembles a branded business”.
“They have had success selling brands online and so maybe they will also look to bring more brands into their stores as well as differentiating their own brand collections in store,” she said.