The UK’s largest creator, importer, wholesaler and distributor of clothing for major high street stores has outlined plans to “accelerate its e-commerce activity”.
Manchester-based Whispering Smith, which has offices in London, Amsterdam and New York, is set to launch partnerships across multiple territories in the EU and USA over the coming 12 months.
Already a worldwide leader in design, production, and delivery, the firm is a third-generation global business that supplies top retail and e-commerce names. Whispering Smith also has its own portfolio of brands, including Brave Soul, Good for Nothing, Legacy Studios and Night Addict.
The company has just launched a new B2B online platform via Whispering Smith.com, enabling retailers to instantly order fashion stocks from stores.
The growth plan comes as the company announces its annual results, which show how the business has successfully navigated the post-pandemic challenges affecting the sector.
Results posted to Companies House, show the business’ net result has improved by £4.3m this year.
They swung from an operating loss of £4.7m last year to a loss of £433k.
Commenting on the results, Sam Hill, the Financial Director of Whispering Smith, said: “This is a significant turnaround and in line with our plan. We aim to return to profitability in the upcoming year despite the retail economic backdrop remaining quite challenging.
“Our focus has been to reduce the cost base and turn ageing inventory into cash. We are pleased to report an increase in cash balance of £3.9m and £13.9m of current, on-trend Inventory.”
Outlining the business’ planned next steps Mr Hill continued: “Our strategy to become an omnichannel, multi-faceted business is taking shape with effective launches of multiple e-commerce strategic partnerships in the UK this year. We intend to accelerate the scale of our e-commerce activity in 2024-25 where we will see the launch of partnerships across multiple territories across the EU and USA including Next Online.
Mr Hill said the core purpose of Whispering Smith’s strategy remains to provide consumers with the latest fashion trends across a wide pricing spectrum to suit all budgets.
“From our UK and International logistics warehousing hubs, we are well positioned to quickly serve our customers internationally,” he explained.
“Our product menu and depth of range is one of the most extensive around and we will continue to design and invest in on-hand inventory so we can serve the markets quickly with the latest fashionable products.
“Brave Soul brand continues to be the heartbeat of our business with the brand, Good For Nothing and Legacy Studios are growing quickly and appeal to an alternative consumer.
Earlier this year the managing director of Whispering Smith told how the company’s move to a new Manchester headquarters is evidence of the business staying true to its roots.
Rohil Kumar said Whispering Smith, was set to write a new chapter in its legacy and wants to expand their team at its new head office on 274 Deansgate.
Already a worldwide leader in design, production, and delivery, the firm is a third-generation global business that supplies top retail and e-commerce names.
Having outgrown its original HQ on Great Ducie Street, the business is now trading from the heart of Manchester City Centre in a new five-storey, 23,688 sq ft Deansgate base which it acquired for £6.35 million.
Commenting on the move, Mr Kumar said: “After occupying our previous premises for almost 30 years, we realised that to keep up with Manchester’s ever-changing landscape, we needed to relocate to the heart of the city. Our relocation is a testament to our commitment to Manchester’s growth, and our investment reflects this promise.”