Promising 2014 for Peacocks: a new store a week

The future is bright now for the affordable fashion Peacocks,

which went into administration in early 2012. The chain´s new owner, Edinburgh Wollen Mill, will invest further in Peacocks, aimed to create more than 1,100 jobs over the next 18 months.

As per the Scottish group´s last records, Edinburgh Wollen Mill (EWM) has put 80 million pounds into Peacocks´ revamping plan. The group wants to refocus the brand and build its online presence.

As per EMV´s executives’ comments, this strategy has proved to be the right one for the ailing retailer, as it has delivered a double digit increase in like-for-like sales in the year to March 2 and has secured more than 6,000 jobs in the UK.

Edinburgh Woollen Mill now expects to open one new Peacocks store a week in the UK over the first eight weeks of next year. Around 100 of the new posts will be created at Peacocks as part of the revival of the 440-store brand.

Peacocks, previously owned by hedge funds Och-Ziff and Perry Capital, collapsed after struggling with around 240 million pounds of debt and was bought out of administration by Edinburgh Wollen Mill in February 2012.

"Enhancing its overseas presence" it’s the second goal for Peacocks, which currently has 93 Peacocks sites abroad. "Robust international markets" such as Germany, the Middle East and Russia will be the main target for 2014.