8th Jul 09
Sock Shop opening first new retail outlets in years
by Paul Russell
www.sockshop.co.uk
The iconic specialist store, Sock Shop, is said to be opening its first UK retail outlet since the chain went into administration three-and-a-half years ago.
Hosiery and textiles manufacturer Ruia Group acquired the Sock Shop brand from the administrators, and has revealed that a store will open at Manchester Airport this week.
Amit Ruia, the company’s head of retail, commented that the Manchester Airport store would be the first of 10 UK airport outlets opened over the coming five years – and that more than 20 new stores would be added in the longer term.
Since acquiring the brand, Ruia Group has operated Sock Shop as an online store, selling a range of items from its own-label socks for just £1.50 to Pringle of Scotland cashmere socks at £40. The head of retail indicated that sales had increased over 10 times, reaching £750,000 since it was bought out of administration. Like-for-like sales were showing a current rise of 40 per cent.
Ruia said: “We see this as Sock Shop’s rebirth but customers haven’t forgotten it. There is recognition and affection for Sock Shop, which was great in the 1980s.”
In 1983, retail entrepreneur Sophie Mirman and her husband founded Sock Shop, floating the company on the Unlisted Securities Market in 1987.
Thanks to www.telegraph.co.uk for the above quotes, for more information on this article please visit their website.
www.sockshop.co.uk
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