British Mens Shirt Brand Thomas Pink Withdraws From House of Fraser

British men’s shirt brand Thomas Pink is pulling out of House of Fraser stores following a review of its bricks-and-mortar presence across the UK, Thetradeboss has learned.
 
The brand, which is owned by LVMH, is stocked in HoF stores in Glasgow, Belfast, Bluewater in Kent and London’s Victoria.
 
Thomas Pink is exiting HoF over the summer. A menswear source estimated that the brand will be phased out completely by the end of August.
 
Both HoF and Thomas Pink confirmed the move.
 
A spokeswoman for Thomas Pink said: “We can confirm that Thomas Pink is withdrawing distribution from House of Fraser as part of its ongoing review of its store network.”
 
The news comes as HoF has been shrinking its portfolio of womenswear brand partners from its stores in recent months. HoF executive director for buying and design Maria Hollins outlined aims in March to cut between 30 to 40 third-party brands.
 
The company also axed four womenswear house brands last autumn to focus on growing its remaining labels.
 
In May Hollins told Thetradeboss there was less to do on third-party menswear brands, as the mix is closer to “where [HoF] wants it to be”.
 
However, she added that the number of formal and suiting brands will be “shrinking”, in reaction to consumer shopping behaviour. 
 
Thomas Pink’s latest filed accounts, for the year to 31 December 2015, showed that turnover fell by 5.5% to £35m following reduced sale volumes. Meanwhile, gross profit for the year declined by 8.4% to £23m.
 
Gross margin, which was down to 65.7% compared with 67.9% in the previous year, was affected by increased discounting.
, , , , , ,