Brand expert queries Boudiche positioning following administration
Brand expert Asanka De Silva has questioned the brand positioning of Scottish lingerie firm Boudiche, which was placed into administration over the weekend.
The closure of the firm, which had shops in Edinburgh and Glasgow, has meant that 13 staff have been made redundant with immediate effect.
Directors Claire Thommen and Fiona McLean have blamed the tram works taking place in Edinburgh’s city centre for the decrease in footfall past the shop by 40%, but De Silva has described the brand positioning as “awful in many ways” and said that he believed that it lacked a clear brand target.
He added that he failed to see the differentiating point for the business but did conceded that part of the reason for a reduction in footfall could have been down to the disruption from the tram works.
“However, a quick look at their P&L shows that they have failed to make money in any of the four years that the accounts are filed. So in all likelihood this could be a reason of lack of proper business fundamentals,” he concluded.
Seeking a new owner, administrator Tom MacLennan, head of recovery for RSM Tenon in Scotland described Boudiche as a ‘high profile brand’ and ‘a rising star in quality lingerie market’ which he believed had the potential for further development, especially online.