MADRID, June 23 (Reuters) – Spanish fashion retailer Tendam, which like others has bounced again from the pandemic partially by boosting its on-line sales, will follow free clothes returns, its CEO instructed Reuters, regardless of the follow dragging on some digital retail rivals.
The proprietor of Girls´Secret and Cortefiel chains believes one of the best ways for fashion retailers to make earnings is to combine on-line and bodily companies.
British on-line fashion retailers ASOS and Boohoo are being damage by rising product returns as shoppers battle inflation and will observe others in introducing a cost for some returns. learn extra
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Tendam president and CEO Jaume Miquel mentioned charging for returns was improper. “It appears to be like like we’re attempting to make clients really feel responsible. Firms want to have interaction in some self-reflection once they have 40% returns,” he mentioned in an interview on the firm’s Madrid headquarters.
Miquel mentioned on-line sales labored higher when clients had the choice of bodily shops to decide and return garments.
“I might not like Spain’s business map to be made up of the yellow containers of Amazon service factors (…) retailers assist to enhance individuals’s high quality of life,” Miquel added.
Nearly 70% of Tendam’s on-line clients return their purchases in-store and the return price is 21%.
Tendam reported on Thursday that its sales grew 43.3% to 1.1 billion euros from March 2021 to February 2022, in step with pre-pandemic ranges. Digital sales have been up by 30.4% within the final yr versus 2020 and 95.6% increased than 2019.
Tendam’s shareholders embody the buyout funds PAI and CVC.
Spain’s third-largest clothes group in sales has 1,805 bodily shops – 1,200 of which it operates itself – in Europe, Center East and Latam markets. It plans to open extra in Mexico and Iberia, however not in China and the U.S. amid extreme competitors. It’s going to additionally add greater than 100 main manufacturers like Levis and UGG onto its digital platform.
Russia’s Tendam bodily and on-line sales accounted for two% of its revenues earlier than the Ukraine invasion. They’ll stay suspended as the corporate evaluates whether or not to reopen or shut completely or function by native companions as corporations like Mango are doing.
“I would like to take at the very least six months to resolve,” Miquel mentioned.
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Reporting by Corina Pons, enhancing Aislinn Laing, Elaine Hardcastle
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