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The market witnessed the biggest break-up in retail history back in 2005 and 2006, when GUS – Great Universal Stores – demerged its Argos, Burberry and Homebase businesses into seperate entities alongside credit agency Experian.
New ultra fastfashion competitors like ASOS and Boohoo entered the market and did what Forever 21 did but better. Not only are these retailers fast to market with their trendy designs they are also skilled eCommerce operators. In the 2000s the internet met fastfashion, and a slew of new competitors began to emerge.
But I also guided the company through a complete chapter 11 reorganization back in 2006, spearheaded by Venture Capital, which was painful and ugly and embarrassing and humiliating. So I’m gonna guess you’re not a fan of fastfashion.
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