Attire Accessories - Nov/Dec 2018 (Issue 73)

PROFILE 39 MISS MILLY T: +44 (0)1905 622 509 W: missmilly.co.uk missmillyuk pick and pack. And then a year ago, when the sales administrator left, I acted on something I had been thinking about for a while and moved the stock and order processing to a fulfilment warehouse. I have always been very conscious of overheads and not being extravagant; I’ve seen new businesses quickly fold when instead of consolidating and growing as a result of success, they’ve opted for unnecessary luxuries. Obviously, it’s fantastic to reap the rewards of a decent net profit but not at the expense of your company’s future. It felt risky moving the stock to somebody else, and there were teething problems, but it was definitely the right move for me and the business as a whole. How do you view the current market, and what trends – both in business and product – do you see emerging over the coming months? The market is tough, but it’s not as hard to conquer as it was in the midst of the double-dip recession six years ago, when Miss Milly launched! As a supplier, you need to be adaptable and keep your offering fresh and priced appropriately. As a supplier and marketeer, you need to remember that when times are tough, you don’t forget about your brand – you shout about it. Some of the best market share gains can be achieved in downturns. The retail landscape in our industry is changing; increasing numbers of independent shop owners are looking to sell and retire and are not always successful, so stores are closing down. While it is hard on the high street, and the internet giants seem to grow sometimes unfairly and unhindered, I strongly believe that there will always be a place for a great gift or accessories shop. Do you have any thoughts on how Brexit will affect your business? The impact from the fall in the pound has already had a huge impact on our buying. And after being able to protect ourselves to some extent for the current season by pre-booking currency early in 2017, we are more exposed for next season, with so much uncertainty over the UK’s exit deal. It reduces the range of products we can offer. While we work hard with our suppliers to change materials in order to produce the designs we want, sometimes the price points are just not workable. What are your future plans for the business? I love what I do, and it is very rewarding that I have now managed to create a bit more flexibility with the fulfilment team so that the company fits better with my life. After a period of consolidation and strong growth, we are ready to look at new ideas and explore other, complementary product areas. But as always, any decision will be very considered to ensure that it suits the Miss Milly brand.