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

Fashion Rocks sells faltering retail arm

Premium young fashion retailer and music business Fashion Rocks has sold its retail and etail subsidiaries to a private investment business amid concerns over footfall at its Westfield Stratford store.

The two-store retailer was sold to Retail Investments, a private investment company and division of restructuring specialist Hilco UK, which specialises in the turnaround of struggling retailers, on December 2. The new owners immediately injected cash into the retail and etail divisions and will carry out a strategic and operational review.

Fashion Rocks Group and its chairman Angus Morrison will now focus on the Fashion Rocks music events only. Morrison said: “Trading in the store in Meadowhall and on the web platform have been encouraging, but the store launched outside on the street at Westfield Stratford suffered due to the very low footfall. 

“We felt it was better to proceed with this transaction ahead of the peak Christmas trading period to give the new owners the best opportunity for success.”

Fashion Rocks was founded as a music event designed to raise money for The Prince’s Trust.

The concept, launched in 2003, was to bring together big-name designer catwalks with live music performances – combining labels such as Giorgio Armani with celebrities including Beyoncé – in cities such as London and Rio de Janeiro.

The idea to turn Fashion Rocks into a retail franchise was first mooted in April 2009. The transactional website, www.fashionrocks.com, launched in January 2011 and the first store opened in Sheffield’s Meadowhall shopping centre in March 2012, followed by the opening of a 12,000 sq ft store at Westfield Stratford in September. 

Fashion Rocks was founded by Angus Morrison and David Douglas, who founded young fashion chain USC. The business’s retail operation was led by former Cruise managing director John Heath and design director Martin Lacey. Heath will continue as head of retail for the business under its new owners.

Readers' comments (2)

  • This is such a shame but Westfield Stratford's outside area seems to have a massive footfall problem across sectors. Both retailers and food operators have been complaining of empty shops/retaurants.

    Unsuitable or offensive? Report this comment

  • I agree there definitely seems to be a problem for retailers in the outside area at Westfield Stratford - it is just slightly out of the way. Massive shame though because there are some really impressive stores in that area, I hope they are not all suffering.

    Unsuitable or offensive? Report this comment

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.