Liberty is planning to increase its own-label products and is relying on beauty sales to fuel growth, with potential plans for new standalone stores.
CEO Adil Mehboob-Khan aims to leverage the popularity of own-brand goods to expand the business, according to the Financial Times.
Last year, Liberty introduced LBTY, its beauty brand offering five luxury perfumes inspired by its prints.
In an interview with the publication, Mehboob-Khan mentioned that the retailer’s own label was performing exceptionally well, and the new perfumes were in high demand, with potential for international expansion.
The shift towards own-brand products is in line with department stores’ increasing focus on products with higher margins and a competitive advantage.
The Liberty CEO stated that there is significant demand for their brand to reach beyond e-commerce and potentially lead to the opening of new shops exclusively selling the retailer’s own-brand goods, the first of its kind since the last century.
Mehboob-Khan envisions new locations under the Liberty brand umbrella, indicating a potential demand for their own stores. However, he emphasized the difficulty of replicating the unique atmosphere of the Liberty store in new locations.
This move comes amidst a challenging luxury fashion market, with the CEO expecting beauty and accessories to perform well while expressing uncertainty about the fashion market.
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