In response to the COVID-19 pandemic, N Brown prepared to raise £100m in equity to accelerate its focus on digital experience and attract a broader range of shoppers.
And as much as this move has the potential to have a significant social impact, it’s not coming out of the blue.
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For N Group – the company behind the British brands JD WILLIAMS, HOME ESSENTIALS, simply be, Ambrose Wilson, and others – inclusion is a strong priority.
“Having restructured the business and transitioned to more than 90% of revenues from digital, we now see a clear opportunity to capitalise on various industry drivers, not least the increasing trend towards online retail, and further improve our customer proposition,” said Steve Johnson, CEO at N Brown Group.
The company recently announced its move into the homeware sector as its fashion sales have dropped due to the pandemic. This would cater to cautious consumers who still spend more time at home and invest more in home fashion now. The holiday season has also pushed the group’s efforts towards investing in home gift sales.
Additionally, Figleaves, the group’s lingerie, swimwear, and nightwear brand that caters to women with bigger busts, is now creating non-wired designs and bralettes – again, as part of an all-around effort to make everyone feel comfortable. Figleaves is one of the best selling brands in this sector and is leading the charge.
Same goes with Jacamo, the group’s menswear brand that includes shirts, suits, chinos and other men’s clothing in plus sizes (up to 5XL).
Recently, Jacamo renewed its partnership with Sky Media to create branded content and a new advertising campaign that focuses on male body confidence. The idea behind it is to shift consumer mentality from “fat to big,” and will feature athletes Paul Olima and James Haskel as well as SAS Elite forces Ollie Ollerton and Jay Morton.
“Our 2019 partnership with Jacamo for their “Own Your Moment” campaign was an incredible success story – increasing the brand’s likeability by 28pp and consideration by 27pp. We are delighted to have the opportunity to build on the campaign’s success, with this piece of branded content,” said Sarah Jones, Director of Planning at Sky Media.
Raising the £100 Million
And now, N Brown Group announced that it had secured shareholders’ support in its bid to raise £100m last month – which closed for acceptances on December 14.
According to a recent Retail Gazette article: N Brown received valid acceptances from shareholders under their open offer entitlements in the amount of 60,018,958 open offer shares. The company also revealed an open offer through the issue of 174,666,053 new ordinary shares – with each at an issue price of 57 pence.
“Securing the support of our shareholders, alongside the significant commitment made by the Alliance family, leaves us well placed to accelerate our strategic ambitions,” said Johnson.
“While we are mindful of the ongoing uncertainty of the UK retail environment, we are confident we can continue to build on the unique strength of the group’s brands and remain focused on creating a sustainable business delivering profitable growth over the long term.”
Oh, and N Brown’s Accounts Payable Team won the Digital Transformation Award at the Accounts Payable Association annual conference last month. Kudos to that, too
