Online fashion retailer THE ICONIC increases market share
Written on the 1 March 2019 by Business News Australia
Online fashion retailer, THE ICONIC, has increased its market share in Australia and New Zealand from 9 to 15 per cent as it confirms its status as one of the fastest growing pure online plaer in both countries.
The fashion and sports retailer released a trading update which also reveals it now sells 1,000 brands and 60,000 products on its site including recent high profile additions Ellery, House of Holland, Swarovski and Nudie Jeans.
THE ICONIC also says its mobile-first approach to innovation is helping drive growth with its mobile app receiving more than two million downloads across iOS and Android, with seven out of every 10 visits happening on a mobile device.
The company has hired Erica Berchtold as its new CEO, with former-CEO Patrick Schmidt, co-CEO of parent company Global Fashion Group (GFG), assuming the role of chairman.
Berchtold, with more than 20 years of retail experience, was poached by THE ICONIC from Super Retail Group where she was managing director of Rebel.
THE ICONIC was recently named as the number one Australian fashion retailer by Practicology which ranked businesses on their ability to provide certain benchmarks that they say all brands should be working towards. These include payment methods, click-and-collect, phone customer service, and search engine optimisation.
The company has stated it intends to continue to disrupt and define the future of fashion and sports retail across Australia and New Zealand through tech innovation and brand partnerships, while continuing to invest in its people, infrastructure and operational capabilities.
THE ICONIC has demonstrated the reality that online is the future for Australia's retail sector by introducing new technologies, offering customers easy to use payment solutions, and making shopping as accessible as possible.
In 2018 a number of Australia's iconic fashion retail brands met their demise including Ed Harry, Napoleon Perdis, and Roger David which were unable to keep up with the new kids on the block and have had to shut up shop.
The sudden shift to online and the emergence of Amazon in Australia was a king hit for many older players that perhaps expected their household name to be enough to keep them in the ring.
THE ICONIC says its development of first-to-market personalisation and browsing features, such as "Follow the Brand", "Find Your Fit" and "Snap to Shop", continue to drive customer retention and acquisition while bridging the online and offline shopping experience.
THE ICONIC was launched in 2011 with the aim of creating a seamless and inspiring shopping experience for its customers. THE ICONIC offers free shipping over $50 and free returns for 30 days, and is also Australia and New Zealand's most downloaded fashion app.
THE ICONIC has thousands of international and local brands and products across Womens, Mens, Sport, Designer and Kids, with more than 200 new products arriving on site daily.
Business News Australia
Author: Business News Australia