Radley to target America with Macy’s deal
British handbag and accessories brand Radley is set to return to the American market, following its withdrawal six years ago, after signing an exclusive deal with US department store chain Macy’s.
The deal, will see Radley opening concessions in 100 Macy’s stores by Christmas, with as many as 300 possible within the next 12 months, as the handbag brand attempts to crack the US market, according to reports in The Times.
“It was poorly thought through and the execution was even worse,” chief executive Justin Stead said in an interview with The Times. “This time around we’re going back with a very well thought through plan. I think it’s going to pay huge dividends.”
The move follows the private equity-backed company selling its products on TV shopping channel QVC, which was declared a success as Stead told the newspaper that during its hour-long show it sold out of its 750,000 dollars of product in just 30 minutes.
Acquired by private equity house Bregal Freshstream last year, it said at the time it saw “significant potential” in expanding Radley to the international market.
Radley was founded in 1998 and has around 32 standalone UK stores, it is also sold in John Lewis, House of Fraser and other department stores and independent retailers, as well as via its website.