It already has a presence in Europe via the LittlewoodsEurope.com
website, but now Shop Direct is expanding its reach by taking
young fashion title Very into the USA and 47 other countries.
Starting next month, the home shopping giant will embark on a
phased overseas launch of Very, initially as an online-only
offering.
The news comes as group chief executive Mark Newton-Jones
admitted the company had seen a “marked slowdown in
consumer confidence and spending” in the past six months.
“We don’t believe the environment will be become any easier
in the foreseeable future and, as such, we are budgeting for a
tough year ahead whilst continuing to invest in areas for future
growth,” he said in a statement.
As well as international expansion, Shop Direct is also looking
to the mobile channel for growth. This will include full
optimisation of the Very.co.uk and Littlewoods.com web platforms
for mobile shopping.
In the year to 30th June 2011, sales grew 5.5 percent to
£1.94 billion ($3.08 billion), while losses narrowed from
£21 million ($33.4 million) in 2009-10to £7.8 million
($12.4 million) last year.
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