Freemans Grattan Holdings (FGH), formerly known as Otto UK, has
shut its Montage catalogue brand. In a letter to customers, the
company said that “unfortunately in the current economic
climate, the business has decided to focus its efforts on core
brands”, which include Freemans, Kaleidoscope, and
Oli.co.uk. Montage accepted orders through 14th June and is
accepting returns until 27th July.
In a statement to Catalogue e-business, FGH chief
executive Koert Tulleners said the Montage offering and market
position was “too similar” to that of Freemans and
Grattan and therefore did not warrant its own title. He added
that there are no job cuts associated with this closure, which is
part of FGH’s wider restructuring and rationalisation
initiatives. FGH also recently folded Oli’s customer magazine,
though it continues to promote the brand online.
Adjusted for currency, FGH recorded a sales drop of 14.8 percent,
to £350 million in the year to February 2009.