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Ecommerce Market Review

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Ecommerce Market Review ABOUT THE FRENCH CONNECTION GROUP: JUNE 2015 FRENCH CONNECTION 2 FRENCH CONNECTION / A globally recognised brand / Strong international presence, representing 37% of Group revenue / A unique blend of fashion know-how, production capability and distribution channels / Growing license business with market leading partners / Business strengthened with planned return to profit / Highly operationally geared with growth opportunities clearly identified / Strong Balance Sheet with valuable assets 3 THE FRENCH CONNECTION GROUP £450m+ 1 1 Direct and third party Gross Transaction Value 4 FRENCH CONNECTION GROUP KEY NUMBERS 2015 Total Group Revenue £178.5m Retail/Wholesale Rev Split 58%/42% Retail/Wholesale GM% 57.6%/32.3% Ecommerce as a % of Retail 23% Womens/Mens Rev. split 80%/20% Total International Rev. 37% Licence Income £6.5m Closing Net Cash £23.2m Capex as a % of Revenue 0.5% Total employees 2,500 SS15 Press Day, London Showroom 5 FRENCH CONNECTION GROUP A VALUABLE PORTFOLIO OF BRANDS French Connection- the core brand / Instantly recognisable / Iconic campaigns / Thought provoking, visionary design approach French Connection- sub brands / FCUK brand used very selectively / “F” icon used for younger target market Other brands (14% of Group Rev.) Toast: Crafted ladies, mens and homeware YMC: Edgy, contemporary fashion Great Plains: Fashion basics range designed in house 6 FRENCH CONNECTION T H E B R A N D / The Brand is built on a reputation for fashion, design and quality ‘In 1 or 2 words what do you like most about French Connection Brand. Top scoring Premium High Street Brand, AW14 Word size indicates volume of responses Drapers, November 2014 Internally Commissioned Research, 2014 Main feature “How to Wear Uniform Jackets” with French Connection French Connection Dresses Feature, Look Cotton Canvas Jacket Magazine, May 2015 Elle Magazine, May 2015 7 FRENCH CONNECTION T H E B R A N D / Brand awareness and consideration is high Commissioned Research Commissioned Research SS15 Collection AW15 Collection 8 FRENCH CONNECTION T H E B R A N D / French Connection is placed in the bridge brand bracket sitting between premium and mainstream fashion retailers £7,000 Comparable Baskets Analysis £6,000 £5,000 £4,000 £3,000 5772 £2,000 3482 £1,000 1413 1534 848 1077 447 498 792 £0 240 278 413 Edison Research, 2014 SS15 Press Day 9 FRENCH CONNECTION THE CUSTOMER / Core customer 25 – 34 years old, aspirational and fashion conscious / Core customer builds their look from a wide range of retailers / Core customer looking for clothes which are elegant, sophisticated and smart / To appeal to a wider spread of customers Classic “never out of fashion” basics and Fashion forward edgier styles are offered as part of the range / Design and mix of products are adapted for local country tastes where necessary Commissioned Research 10 FRENCH CONNECTION THE COLLECTION / French Connection very strong in Dresses and Knitwear Isla Ripple Flared Dress Effie Knits Jumper £120 £85 Unique pattern Made in Italy 11 FRENCH CONNECTION THE COLLECTION / With a growing separates business capitalising on changing customer tastes Polly Plains Pocket Top Rebound Denim £29 £69 Made in China Extended denim line launched 2015 12 FRENCH CONNECTION THE COLLECTION / And driving the accessories category to grow average transaction value Hexagon Tile Bracelet Quanna Mesh Ankle Boots £30 £125 13 FRENCH CONNECTION HOMEWARE SS15 Homeware / Launched in the second half of 2013 the direct homeware business generated over £1m in first full year / New product lines resonating strongly with customers / Designed in house and available in store and online. / Launch of DFS licensing deal in 2014, high growth from partner store expansion and additional ranges Zinc Sofa, DFS, Summer 2015 Flint Sofa, DFS, Summer 2015 Quartz Sofa, DFS, Summer 2015 14 FRENCH CONNECTION HOW WE DO IT Design / A design-led company with an in-house design team at the Head Office in London / Fashion forward inspiration has led to iconic pieces of apparel Production / No owned manufacturing / Production split China 43%, India 23%, Turkey 15%, Other 19% / Local buying offices in Hong Kong, India, Turkey and Poland to source and coordinate production / Very stable and flexible supply chain / Unique in-house pattern room to ensure fit and quality / Know-how and supply chain ensure a stable input margin 15 FRENCH CONNECTION HOW WE DO IT React to new trends / Flexibility of supply chain enables the business to order on short lead times / Testing of new styles, re-orders of successful styles The Effie Knits Story / Test style delivered to Oxford Street to trial for Winter ‘15 / Daily sales reporting highlight style as strong performer / Production team notified, style put into ‘Fast Track’ / Order placed with Italian factory and back into store in 6 weeks 16 FRENCH CONNECTION HOW WE DO IT / Iconic imagery, unique partnerships and sponsorship SS15 Campaign, Rankin 17 FRENCH CONNECTION HOW WE DO IT / Engaging social media content, with unique in store events and strong PR 695k 71k 36k 18 FRENCH CONNECTION HOW WE DO IT / Launch of capsule collection with Olympic gold medallist & professional heavyweight boxer Anthony Joshua Engaging Customers Leveraging store assets Maximising Press Impact @LiamTsmith Gonna have to get myself a @anthonyjoshua @FCUK top for the 30th @EddieHearn #fcukfear @jkwfung87 With @ChloeSi15592290 to meet @anthonyfjoshua what a great guy 1 of @AttitudeCetnre finest #fcukfear Not Just Another Outfit danielrhone Was a pleasure having a chat again with the big man @Anthony_Joshua for @frenchconnection_ official collection launch Shortlist Magazine 19 FRENCH CONNECTION GROUP ROUTES TO MARKET Direct Indirect Retail Wholesale Partnerships / Owned Stores / Department Stores / Country Licenses / Concessions / Pure play E-tailers / Joint Ventures / Direct Ecommerce / Independent Retailers / Franchised Retail / Product Licenses 20 F R E N C H CONNECTION GROUP RETAIL Concession Partners 21 FRENCH CONNECTION GROUP RETAIL Retail / 143 own operated locations across UK, Europe and North America / 75 French Connection stores, 48 French Connection concessions, 7 Great Plains concessions, 11 Toast stores and 2 YMC stores / Recent improvements to store operations, and customer focus / The store estate supports the brand and customer engagement (e.g. click and collect and upsell) / Store numbers continue to fall as marginal stores are closed / Profitable concession model French Connection Amsterdam Store French Connection Pop Up Store, Old Street Station 22 FRENCH CONNECTION RETAIL Multi channel / French Connection heritage in the catalogue business enabled a swift transition to ecommerce and subsequent enhancements e.g. a fully responsive website launched in 2013 / Integration of retail and ecommerce departments under single management and merchandising / Click and collect 23% of orders and mobile and tablet 43% of sales / Greater personalisation being implemented to drive engagement and conversion / Exposed to ecommerce growth with multi brand partners (e.g. Next, House of Fraser, John Lewis, Zalando, ASOS) Store image 23 F R E N C H CONNECTION GROUP WHOLESALE Paris Showroom Bloomingdales, Beverley Centre Los Angeles 24 FRENCH CONNECTION WHOLESALE Wholesale / Sales through dedicated teams working out of International showrooms / Key account management with marketing and PR support / Work with partners to tailor range to local tastes New York Dusseldorf London Paris Manchester Hong Kong John Lewis, Liverpool Bloomingdales, San Fransisco French Connection, Adelaide 25 FRENCH CONNECTION GROUP PARTNERSHIPS Dubai Image India Image Dubai franchise store Prague franchise store 26 FRENCH CONNECTION GROUP PARTNERSHIPS Product Licenses / Product license well established (since the 1980’s), an expanding business with high profile partners / Very stable income stream with very low costs required to support / 17 Licence agreements / Products and partners chosen for fit with French Connection brand ethos / French Connection design team work side by side with the partners to develop product / Global Licenses: Shoes, watches, childrenswear, jewellery / Multi-Territory: Bags, prescription eyewear, eyewear, sunglasses, hotel amenities, fragrance / Territory-specific: Sofas, grooming/toiletries, suiting, coats / Additional license opportunities e.g. underwear and hosiery Product Images Product Images Sofa Sofa Sofas, DFS Prescription Eyewear, Specsavers Shoes, Highline Toiletries, Boots 27 F R E N C H CONNECTION GROUP HISTORY / Founded in 1969 and floated on the London Stock Exchange in 1995 following strong growth in both retail and wholesale the brand rose to global prominence during the early 2000’s with the FCUK brand. / Initiatives launched in 2013 have strengthened performance following a period of weaker trading Launch of retail Prominence of FCUK US & Japan store Softer sell through & rationalisation increasing rents initiatives Softening of FCUK International expansion Leading to strengthened Sale of Nicole Farhi performance £300m £200m Revenue £200m 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016E £(10)m Retail Initiatives: Store Operations – sales effectiveness and operational efficiency Customer Focused Product – ranges that match core customer need Merchandise management – structured approach to buying, speed Portfolio management – disposals of loss making stores Management team – strengthen through key appointments 28 FRENCH CONNECTION GROUP CURRENT PERFORMANCE Wholesale Licensing PROFIT
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