INTRODUCTION
THEN
Phase Eight was established in the UK in 1979 with a small boutique in Wandsworth. In its first 15 years the company opened 15 regional boutique stores, becoming a premium women’s fashion retailer and a destination for customers looking for beautiful and affordable casual and occasionwear.
NOW
In the last 10 years, Phase Eight has grown significantly and now has over 400 stores and concessions globally. The brand’s strength is found in its originality; exclusive designs combined with beautiful fabrics and unique prints that allow for individual translation, with a design philosophy that transcends all ages. Our customer is a 35 – 55 year old lady who is stylish and discerning, demanding high quality, flattering designs for all occasions. We pride ourselves on providing the perfect shopping environment, giving the customer pleasure in both the buying and the wearing.
5
MANAGEMENT YEARS SERVICE AT PHASE EIGHT
YEARS SERVICE IN RETAIL
8
11
Joined in 2002 as Design Director and promoted to Brand Director in 2007. Previously at Monsoon for 9 years as Design Manager and sole designer for Max Mara Italy, I Blues.
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26
Managing Director
Joined in 2000 as Merchandise Director with a broad remit that included logistics and property - subsequently promoted to COO in 2012 and Managing Director in 2014. Previously at M&S for six years.
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21
Cameron Jack
Finance Director
Joined Phase Eight in 2013, having previously worked with the team on the 2010 MBO. Cameron has significant financial / retail advisory experience, gained at Hawkpoint, Kaupthing and Close Brothers.
2
2
Ian Wallis
International Director - Asia, Americas and Franchise
Joined Phase Eight in 2010. Previously UK & International Director for Oasis looking after 400 + locations globally. Previous roles include senior positions at Levis, Gap and Topshop.
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34
Guy Tambling
IT & E-Commerce Director
Joined Phase Eight in 2001 as IT Manager, prior to his promotion to the role of Director of IT in 2006. Guy launched e-commerce in 2008 and was promoted to IT & E-Commerce Director in 2010.
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Rosie Stringer
Head of International Development
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NAME
TITLE
Ben Barnett
Chief Executive
Judith Bremner
Brand Director
Lee Harlow
SUMMARY cv Joined the Board in 2007 as NXD, with role expanded to Finance Director in 2009, Commercial Director in 2013 and Chief Executive in March 2014. Previously held investment banking and private equity roles, with NXD roles at retailers including Costcutter & Jane Norman.
Joined Phase Eight in 2012. Previously worked at Barclays Capital for 4 years, focusing on international advisory and finance for FTSE 100 and FTSE 250 retailers. Assignments included working with Kingfisher, Whitbread, Next and M&S on their international expansion.
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distinctive international brand POSITION premium contemporary
OUR
BACKGROUND Established in London in 1979. Traditionally elegant & contemporary clothing for women aged 35-55 +. Over 400 stores & concessions.
CLUB MONACO
BETTY BARCLAY
COAST
• Large underserved market.
ANN TAYLOR TALBOTS
alice + olivia MAJE SANDRO BCBG
KAREN MILLEN TED BAKER
GERRY WEBER
FASHION CONSERVATIVE
zadig & voltaire
MAX MARA TADASHI SHOJI
EILEEN FISHER
Classic
directional fashion
on trend fashion
• Affluent customer base. • Fashion aware, not fashion led.
J CREW
ANNE KLEIN monsoon
FASHION FORWARD
CHICO’S
classic value
WHITE HOUSE/ BLACK MARKET WALLIS
value 9
OUR CUSTOMER
PERCENTAGE OF SALES 1
O
US
ER
S
ES
BLO
other
TR
O SH
She trusts Phase Eight as a brand that can cover all areas of her wardrobe, that is elegant and has long-term continuity but also a point of difference.
C/ AC
The Phase Eight customer is typically between the ages of 35 and 55 and an ABC 1 demographic. She is a stylish and contemporary woman who is fashion aware but not led by trends.
USE
S DRESSES
AR WE
T KNI
We pride ourselves on friendly and attentive customer service. Our staff are highly trained to give the customer a personal shopping experience.
JERS
EYW EAR
She wants feminine and colourful clothing in high quality fabrics with an impeccable cut and fit, unique style and design.
Our customers’ in-store experience and quality of service are key focus areas for our business. We want her to be excited by her visit as well as by her purchase shopping at Phase Eight is an uplifing experience.
1
Year ended January 2014
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PRODUCT MIX/PRICE RANGE
DRESSES
40 30 20 10 0
= SS = AW <40
40-59
60-79
80-99 100-129
130-159 160-199 200-259
PRICE (GBP)
12
>260
NUMBER OF OPTIONS
50
60 50 40 30 20 10 0
50
45
45
40
40
35
JERSEYWEAR
70 NUMBER OF OPTIONS
NUMBER OF OPTIONS
60
90 80
50
35
BLOUSES
30
NUMBER OF OPTIONS
70
PRODUCT MIX/PRICE RANGE
25 20 15 5
<40
40-59
60-79
80-99 100-129
130-159 160-199 200-259
PRICE (GBP)
>260
0
= SS = AW <40
40-59
60-79
80-99 100-129
130-159 160-199 200-259
PRICE (GBP)
>260
KNITWEAR
30 25 20 15 5 0
<40
40-59
60-79
80-99 100-129
130-159 160-199 200-259
>260
PRICE (GBP)
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TIMELINE
1979 •
1996
Patsy Hayes opens • 16 stores. her first Phase Eight boutique in Wandsworth, UK.
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TIMELINE
2004
2005
2007
2008
• 90 stores. • Barclays private equity MBO.
• Launch of department store concessions with House of Fraser and Debenhams.
• 148 stores and • Launch of concessions. www.phase-eight.com. • MBO led by current management.
2010
2012
2013
2014
2015
• 231 stores and concessions. • Rapid expansion in the UK.
• 311 stores and concessions. • Launch in Germany and Switzerland. • Launch of Collection 8. • Launch bridal.
• Launch in Sweden, UAE, Australia and Singapore. • Further stores in Germany and Switzerland.
• Further expansion across all international markets. • New launches in the Americas, SE Asia and the Nordic region. • Launch of Beach collection.
• 500 + stores & concession globally. • Continued expansion into new & existing markets. • Global launch of Studio 8 brand.
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THE COLLECTIONS
OCCASION
16
EVENING
THE COLLECTIONS
COLLECTION 8
CASUAL
holiday
DAY
17
OCCASIONWEAR 19
D AY W E A R
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Collection 8 is our limited edition range of evening dresses. Dramatic silhouettes, beautiful embellishments and shimmering sequins mix to create a collection which is both luxurious and alluring, focusing on opulence and red carpet glamour.
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&
SHOES
ACCESSORIES Phase Eight offers a wide range of casual and occasion shoes and accessories to complement all of our collections.
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9/ 7836)7 UK STORES
>100 UK solus stores.* >200 UK concessions.** Number 1 women’s clothing brand in leading department store groups.
OUR STORES
Turnover of >£150m in 2014. EBITDA of >£26m in 2014. 600 options per season. www.phase-eight.com *Average solus store size: 100 - 150 square metres **Average department store concession size: 60 - 90 square metres
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EXCEPTIONAL DEPARTMENT STORE PARTNER
Number one brand in John Lewis and Debenhams in the UK, and exceptional sales densities internationally.
€/sqm
€/sqm
18,000
18,000
16,000
16,000
UK SALES DENSITY
14,000 12,000
12,000
10,000
10,000
8,000
8,000
6,000
6,000
4,000
4,000
2,000
2,000 John Lewis
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House of Fraser
Debenhams
INTERNATIONAL SALES DENSITY
14,000
Germany
Australia
UAE
Singapore Switzerland
Sweden
DEPARTMENT STORES 31
INTERNATIONAL STORES
INTERNATIONAL STORES Phase Eight is currently in the following countries (as of SS15): Australia • Belgium • Bahrain • Germany • Hong Kong • Ireland • Kuwait • Qatar • Netherlands • Norway Malaysia • Mexico • Saudi Arabia • Singapore • Sweden • Switzerland • UAE • UK • USA Countries we are expanding in: Austria • Canada • Chile • Denmark • Finland • France • Indonesia • Italy • Japan New Zealand • Panama • Peru • Russia • South Korea • Spain • Turkey
PHASE EIGHT WILL HAVE >200 POINTS OF SALE INTERNATIONALLY BY THE END OF 2015
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PLANS & SHOP FIT
Enhanced Franchise / Affiliation Format
FROM CONCEPT TO OPENING IN 4 – 6 WEEKS
Phase Eight is able to offer an enhanced franchise / affiliation model within international markets to potential partners
Phase Eight have an experienced team of architects, designers and project managers to take a store or concession from idea to opening in under 6 weeks. We arrange store visits and work efficiently and accurately with external colleagues in order to execute openings in a much shorter time-frame than many of our peer brands.
INTERNATIONAL Shop-Fit Concept LONDON concession
Traditional Shop-Fit Concept Dubai Concession
Merchandise:
Shop-fit and staffing:
Payments:
Local partner assists Phase Eight in editing the range each season, adding/removing product groups as appropriate for the local market.
Phase Eight will provide an initial shop-fit package, concept and design guidelines for the store.
Payments are made weekly to Phase Eight for the sales value of products sold (less guaranteed margin), 7 days after each period end.
Phase Eight will set up the store for automatic replenishment, on a weekly basis, to ensure full stock availability of best-sellers. Phase Eight launch new collections monthly, and will select new in-season product for the store (with the partner’s input) to provide newness through the season. Phase Eight will take back any excess stock at the end of each season. Subject to partner requirements, we are able to provide a multi-channel presence for the store through the provision of locally managed in-store iPads.
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Local partner will pay a portion of this cost – to be determined. Local partner is responsible for recruitment of local staff in the store.
Phase Eight are responsible for transportation costs. No payments are made on delivery/receipt.
Phase Eight can support with training and inductions, drawing on our local management teams. Local point of sale materials and VM guidelines are provided on a regular basis to help drive sales.
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VISUAL MERCHANDISING
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VISUAL MERCHANDISING
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PRESS Source: In Style UK {Main} Edition: Country: UK Date: Thursday 1, May 2014 Page: 107,108,110,112 Area: 2475 sq. cm Circulation: ABC 163432 Monthly Ad data: page rate £12,000.00, scc rate £0.00 Phone: 020 7499 4080 Keyword:
PRESS Source: Edition: Country: Date: Page: Area: Circulation: Ad data: Phone:
Phase Eight
Keyword:
Woman {Main} UK Monday 30, December 2013 22,23,24,25 2836 sq. cm ABC 255685 Weekly page rate £13,400.00, scc rate £0.00 0203 148 5000
Source: The Mail on Sunday {You} Edition: Country: UK Date: Sunday 16, March 2014 Page: 29 Area: 654 sq. cm Circulation: ABC 1586274 Weekly Ad data: page rate £39,300.00, scc rate £230.00 Phone: 020 7938 6000
Phase Eight
Phase Eight
Keyword:
In Style UK {Main}
Source: Edition: Country: Date: Page: Area: Circulation: Ad data: Phone:
UK Saturday 1, March 2014 113,114,115,116.... 3000 sq. cm ABC 163432 Monthly page rate £12,000.00, scc rate £0.00 020 7499 4080
Keyword:
Phase Eight
fashionspecial
SALVATORE FERRAGAMO
COAT, £60, Debenhams
BROGUES, £165, Russell & Bromley
SHIRT, £55, Cos
SLOUCHY SMART The new tailoring is loose and laid back in fine fluid fabrics
CULOTTES, £26, Next
Compiled by EMILY DAWES
Keep the look sleek with a pared-down palette
TOD’S
STILL LIFES: TOBI JENKINS AND NATASHA PSZENICKI. CATWALKING.COM
JUMPSUIT, £130, Phase Eight
BAG, £350, LK Bennett COAT, £169, Jigsaw
SHOES, £65, Faith, from Debenhams For stockists, see page 45 ±
COAT, £495, Whistles
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CONTACTS BEN BARNETT
CHIEF EXECUTIVE OFFICER T: +44 207 471 4411 ben.barnett@phase-eight.co.uk
LEE HARLOW
MANAGING DIRECTOR T: +44 207 371 5656 lee.harlow@phase-eight.co.uk
IAN WALLIS
INTERNATIONAL DIRECTOR ASIA, AMERICAS & FRANCHISE T: +44 207 371 5656 ian.wallis@phase-eight.co.uk
ROSIE STRINGER
HEAD OF INTERNATIONAL DEVELOPMENT T: +44 207 471 4410 rosie.stringer@phase-eight.co.uk
OLIVIA KOCH
INTERNATIONAL DEVELOPMENT ANALYST T: +44 207 471 4420 olivia.koch@phase-eight.co.uk
www.phase-eight.com