N Brown Group plc (LSE: BWNG) is an online retailer headquartered in Manchester, England. N Brown offers a range of products, predominantly clothing, footwear and homewares with a focus on underserved customer groups. The company is listed on the London Stock Exchange.
History
The oldest company within the group - JD Williams & Company Ltd - was founded by James David Williams in 1859 when he started in business operating three mobile shops.[2] In 1882, he took advantage of the introduction of UK's parcel post service,[3] to send his company's products direct to his customers. In 1907, JD Williams instructed architect R Argile to build Langley Buildings in a baroque style on Dale Street in Manchester's Northern Quarter: this building still stands today.[4]
In 1963, All Williams' family shares were bought by Cooper-Taymil Ltd (a subsidiary of Alliance Brothers Ltd. owned by Lord (David) Alliance CBE and Sir Nigel Alliance OBE) and placed in a holding company, N Brown Investments, (founded by Nathan Brown in 1964 and acquired by David Alliance in 1968). In 1970, N Brown Group acquired JD Williams shares along with mail-order catalogues Ambrose Wilson and Oxendales.[5]
In 1986, N Brown Investments acquired the JD Williams group in a reverse takeover to secure a public quotation. The company name was changed to N Brown Group plc.[6]
In 2004, the business moved to new premises on Lever Street in Manchester's Northern Quarter.[7]
The company bought online underwear retailer Figleaves for £11.5 million in 2010.[8]
Lord Alliance stepped down as chairman in 2012 with Andrew Higginson joining that September.[9]
In 2014, N Brown outsourced 550 contact centre roles to Serco.[10] That year it also issued two profit warnings within six months.[11]
Angela Spindler joined as Chief Executive in 2013, succeeding Alan White, who had been in the top job since 1984.[12]
In 2017, shares fell by as much as 9pc when N Brown announced it was facing a £40m hit after finding issues with a credit insurance product it sold to customers between 2006 and 2014, responding to a crackdown by the Financial Conduct Authority.[13]
In 2018, Matt Davies was announced as the new chairman of N Brown Group.[14]
In 2020, N Brown took a range of actions to retain cash after sales fell by 40%.[15] It established a £50 million three-year lending facility under the Coronavirus Large Business Interruption Loan Scheme supported by borrowers. It also broadened curtained covenants in its existing £125 million unsecured revolving credit facility in anticipation of the half-year test date of August 2020.[16]
Following the COVID-19 pandemic and subsequent lock down, the company suffered a sharp decline in revenue in March 2020 and then, in August 2020, suspended its dividend for the financial year ending in February 2021.[17]
Brands
In 1999, Simply Be was launched to cater for women aged 25 – 45 in sizes 12 - 32 and has been a vocal champion of size inclusivity. [18]
In 2007, Jacamo was launched, catering for 25 - 45-year-old men of all body shapes, from small to 5XL. Former cricketer Freddie Flintoff was recently a key brand ambassador.[19]
In 2018, JD Williams rebranded to become JD Williams: The Life Store, positioning the brand as a modern online department store for the 45 – 60-year-old woman.[20]
Home Essentials, Fashion World, Marisota, Ambrose Wilson and Premier Man are also operated by N Brown as well as the Ireland-based Oxendales.
Stores
Simply Be, Jacamo and High & Mighty operated bricks & mortar stores throughout the UK until 2018. The company announced it was closing five loss-making stores in 2017[21][22] and, after announcing, in June 2018, that it was proposing to close all bricks and mortar stores, the company had completely implemented that decision by August 2018.[23]
Locations
The business has its operational Head Office in Manchester's Northern Quarter and has warehousing and distribution centres in Oldham, in Greater Manchester, and Glossop in Derbyshire.[25]
£715.7 million (2022)[1]
£56.9 million (2022)[1]