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Retail relevance, Renovation & Richard Harpin – How to build a £1bn business

Challenge

Build an innovative retail concept into a £1bn business.

How do you take a collection of best-in-class brands, some with existing store estates, some with only an online presence and curate a new and compelling retail concept? One with today’s customer at the heart of everything.

Approach

After detailed analysis of the brief and potential customers, we gathered relevant specialist industry contacts together. Then identified the ‘gap’ in the market that this new concept would fill. We space planned, collaborating with our expert contacts on look and feel.

Elevate undertook numerous site visits with our project team to understand estimated costs and liaised with a data company to provide Pilot-site catchment analysis.

We made assumptions and projections to build out a 5-year P&L. This incorporated two different retail concepts under one brand.

Then we got to grips with the operational requirements and identified what success would look like. Putting together the organisational chart, we pinpointed complementary growth opportunities through concessions and partnership models.

Key connection (Our light-bulb moment)

‘Retail relevance’ – identifying the ‘gap’ in the market that this new concept would fill.

Results

1.A 5-year business plan to ensure growth and establish a £1Bn business – signed off and adopted by investor client – Richard Harpin.

2. Fifteen different retail brands sourced and engaged with, to find innovative partnership and leasing solutions.

3. Pilot site identified, format and concept developed to facilitate successful delivery, using a team of expert industry consultants delivered through our Elevate network.