New Look chief executive Carl McPhail said that “disposable fashion is absolutely dead”, as value retailers continue to come under increasing pressure over throwaway fashion.
Speaking at the Drapers Fashion Summit in London today, McPhail added: “It’s not about cheap and throwaway fashion anymore.”
He also warned retailers over the need to “act quickly” when faced with ethically-related “problems”, pointing out that consumers’ views explode instantly on social networking sites like Twitter and Facebook.
Last week New Look appointed Ernst & Young to carry out an independent review of its supply chain after a Channel 4 investigation revealed poor working conditions at a Leicester factory used by the chain.
McPhail said that New Look’s future lies in its bricks-and-clicks strategy, while the fast-fashion chain’s mission is to be “the number one, international, multi-channel, fashion-value brand in the world”. New Look is on track to invest £90m in the business by the year end.
McPhail added that, of New Look’s 1,000 stores 400 are overseas, and expansion in BRIC countries (Brazil, Russia, India and China) will drive growth at the retailer.