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Ringspun eyeing rapid growth via new short-order strategy

Young fashion brand Ringspun is looking to “significantly” up its stockist numbers after launching a short-order strategy.

The brand will still operate traditional spring/autumn forward orders with key accounts and international stockists such as USC and Bank, but will also now offer seven drops a year for those looking to buy in-season.

Head of sales Richard Gilks said the move was a response to the tough market conditions and the fact that rising numbers of indies are looking to buy more in-season.

Accounts that the brand previously worked with are looking to return as a result, according to Ringspun. Due to an influx of orders since the short-order range was launched three weeks ago, the brand will take on two sales support staff, upping headcount at its Manchester office from 28 to 30.

Gilks said: “We are a lot more reactive to the high street. The agents are going through the doors a lot more often, they are getting feedback and we are able to react a lot quicker. It makes [the collection] a lot more current.”

For spring 12, the brand dropped its wholesale prices by 40% after altering its supply base and dealing with factories directly instead of negotiating through an agent. The drop in prices has meant that stockists can have a three-times mark-up, something Gilks said is key for retailers at the moment.

Due to the price lowering, stockists are beginning to increase the volume of orders, Gilks said. Ringspun has had its first repeat orders and is now encouraging stores to buy deeper across the range.

The impact of this on turnover is expected to be felt later this year.

Gilks added: “We’re looking more to bigger strategic partners such as Bank and Footasylum.”

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