Quiz Clothing, the Glasgow-based fashion retailer which came close to collapse, is opening up to 10 stores over the next 12 months in response to a successful turnaround of the business.
Last month it launched what it terms an “aspirational store concept” at Braehead Glasgow which will be a design blueprint to showcase the extended product offering.
The company is looking at regions across the UK with a focus on London and the south.
The company called in administrators in February following a torrid period on the stock market. After former JD Sports chief Peter Cowgill was brought in as chairman it closed 23 stores and laid off 200 staff to put the business on a more sustainable footing.
The rescue deal was structured as a pre-pack administration, with the remaining assets being acquired by Orion Retail, a subsidiary of the company controlled by the founding Ramzan family.
In July and August the company saw an average 14% uplift in like-for-like store sales and a 5% growth in online sales.
Sheraz Ramzan, chief executive, said: “We have evolved our retail formula at Quiz and, encouraged by a strong uplift in like-for-like retail sales over the summer, we are confident the new strategy is working.
“The plan is to now expand in the right locations through units that provide the best possible backdrop for our extended product offering. This will be underpinned by an improved capex and return model with more flexible lease terms.”
Customer reaction to its relocated Braehead store has been positive, helping to drive a 20% uplift in sales across the business last month.
Retail growth is being supported by international franchise partners, an enhanced concession model and expansion of online partnerships.
Quiz currently operates from 40 stores in the UK and through a network of UK and international franchise and online partners. The UK programme of retail expansion is being advised by Carol Morrison of Beacon Brooke Property Consultants.
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