Montecristo Retail: Landlords of retail spaces should help tenants more
The pandemic has changed the way we live and shop, according to Philippe Besadoux, CEO of Montecristo Retail, which owns the fashion brands KVL by Kenvelo, Lee Cooper and Time Out.
The retailer last April opened its first online platform dedicated to the Romanian market, which has become the best performer of all its shops. "I didn't believe it at first, but now it's the best shop we have. It is covering a bit of the loses we had with the physical stores. But with one e-shop you cannot do miracles. I don't think we will go back soon to the numbers of 2018," Besadoux said during CEDER 2021.
The company also changed its business model during the pandemic. It invested into marketing, and also initiated partnerships with other online shops like FashionDays.ro and eMAG.ro.
Besadoux said its brands had good results for the first two months of this year, followed by poor sales in March. In April, sales were flat, while "in May we finally got back to the retail of 2019."
The company tried to find new suppliers, more fashionable, and rebranded Kenvelo "which is the oldest fashion retail brand in Romania".
Even though sales are picking up, Besadoux explains it is difficult to bring back clients, especially with young people's reflex now to shop online.
"You have to fight, to discount, plus it's difficult to find employees."
He pointed out during CEDER 2021 that the landlords of retail spaces should help tenants more, as the pandemic has shifted the shopping paradigm more towards online than physical stores.