SectorRetail and wholesale
A Newcastle based e-commerce business has undergone an operational and strategic transformation since the pandemic and is now reaping the rewards.
Pink Boutique is a family-owned womenswear fashion retailer that started from a £90 investment in six dresses and an eBay account 10 years ago. Today Pink Boutique is shipping thousands of packages daily from its 30,000 square foot warehouse in Newburn featuring state of the art distribution techniques and a highly flexible workforce.
The pandemic was a difficult time for many businesses however Co-founder and Managing Director, Julie Blackie, pivoted the product offering, re-organised the operating structure and carefully planned stock management allowing the business to navigate through challenging economic conditions.
Mrs Blackie is delighted at the fruits of the labour of her dedicated workforce commenting:
“As a company we have a strong and dedicated management team who were able to react decisively to our changing circumstances. We worked together with Azets to reduce our overheads by £2.7m and change product lines to adapt to the new world allowing us to go from strength to strength”.
A strategic options review undertaken by Julie Blackie and Azets Corporate Finance Partner, Lee Humble, has allowed the business to enter a new exciting phase of organic and acquisitive growth, with several exciting ventures afoot. Lee added:
“Pink Boutique has navigated a tricky market exceptionally well, exceeding budgets set for the current year, as a number of household brands struggling for an identity and profitability look on. We are delighted to be advising Pink Boutique and are excited to see the business continue to flourish”.
It's been a great experience working with Lee and Mike at Azets. They provided us with pragmatic advice and support, totally professional and immediately responsive.Julie Blackie, Owner/Managing Director, Pink Boutique
Despite ongoing economic uncertainty Pink Boutique is trading through 2022 with stability and confidence, thanks to the excellent work and expert guidance from the team of Corporate Finance specialists at Azets. Azets are proud to work with Pink Boutique to help deliver further growth for the North East business.
Lee Humble added, "Business owners are often faced with dilemmas when it comes to strategic direction and can really benefit from speaking to advisors who have seen how other business owners have navigated similar circumstances. Covid19 and subsequent macro-economic factors have created a perfect storm for a lot of businesses and having an outlet through which management can reflect, debate and conclude on revised objectives and strategies is immensely useful. Having the support from experienced professionals who can challenge management, who are often isolated and facing big decisions, can make all manner of difference."
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