John Smedley Coping in the Recession
The family owned knitwear company, famed for its quality and price, are now celebrating their their 225th anniversary. The company makes around £15M a year on jumpers, cardigans and twinsets.
Andrew Caughey is John Smedley's Managing Director. He says that during the recession sales for the company have remained stable. The reason, according to him, is that in a downturn consumers are often willing to forego cheaper and lesser quality products for those which are more lasting.
Only a third of John Smedley's sales are in the UK, and it turns out that the Kingdom held strong for the business recently due to its weakening sterling which has attracted tourists to buy more.
Source: Working Lunch, BBC.
John Smedley Coping in the Recession
Andrew Caughey is John Smedley's Managing Director. He says that during the recession sales for the company have remained stable. The reason, according to him, is that in a downturn consumers are often willing to forego cheaper and lesser quality products for those which are more lasting.
Only a third of John Smedley's sales are in the UK, and it turns out that the Kingdom held strong for the business recently due to its weakening sterling which has attracted tourists to buy more.
Source: Working Lunch, BBC.
John Smedley Coping in the Recession
Labels: economy, John Smedley, knitwear, recession, sales, shopping
