Which very successful clothing retailer has no online store?
Your first reaction may be; what no online store in this day and age.
Figured it out? No. Some more clues.
The business was founded in 1969.
It has 373 stores (reported 2019).
Getting closer to the answer?
It has an annual turnover of £7.79Bn (FY2019).
Few people know this, it is part of a FTSE 100 company.
Last clue. It targets customers under the age group of 35 years which are fashion conscious.
Due to the COVID-pandemic and that it sells non-essential products it stores were closed so they sold ‘nothing’ and when you have 78,000 employees that is alot of affected people.
The company is PRIMARK.
I dwell on the word ‘unfortunately’. I would say this is massive strategic failure on the part of the company. A review of the Board of Directors of Primark’s parent company, Associated British Foods (LSE:ABF), reveals the board has no one with notable digital experience. Umhh, so a company with sales of £7.79Bn in a sector that was among the first to ‘hit by a train’ by online just ignored the revolution that was happening in customer shopping habits?
The clothing sector’s very own Kodak moment. Click here, or should be snap here, to know about Kodak’s moment.
I wrote this as I prepare for the Cloud Industry Forum’s Members meeting on Thursday 29th April 2020. At that meeting we will take stock of what the impact of the current events has been on the cloud computing industry. Actually, these unfortunate events have created boom times for companies like Microsoft, Amazon, Zoom and many others that exist to provide online services.