Flexibility has helped LookSmart Alterations maintain a healthy level of growth, which is is uncharacteristic of the current retail climate with the industry as a whole recording just a 1.0 per cent increase in the March quarter.
The company recorded an average 11 per cent growth each month in its first quarter and as a result it plans to open 12 new sites over the next year.
According to Ray Bryant, CEO of LookSmart, the key to the business’ success is adaptability, specifically, the company’s focus on evolving with current consumer trends.
“Low consumer confidence has strained the buying power across Australia and New Zealand. As a result, many consumers are opting to repair old garments or tailor old garments into new styles to extend the life-cycle of their clothes, or ‘up-cycling’. We have maximised on this trend which has become key to our marketing strategy,” he said.
“It is because of our flexibility, together with the strength of our franchise network and dedication of franchisees that we can continue with our expansion plans.”
With an annual turnover in excess of $28 million, LookSmart is also looking to expand the company’s service offering to include embroidery and dry cleaning across all locations to increase services offered to their one million annual customers.
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