Irish online fashion retailer Oxendales has named Paul Sweeney as its new chief executive as the former mail order catalogue company ramps up its digital transformation.
The Scottish executive joins the brand from its parent company N Brown Group, where he served in a number of roles, most recently as director of operations at the UK-based retailer.
Mr Sweeney told The Irish Times that he will be splitting his time between Glasgow, where he is currently based, and Oxendales’ Santry, Dublin 17 headquarters, where the group employs about 50 people. He said the company plans to ramp up hiring in Ireland as it looks to continue its digital transformation over the next six to 12 months.
He said the company had received investment from its parent – which also owns online fashion brands Jacamo, JD Williams and Simply Be – to continue to strengthen its online offering and give the brand’s website “a more modern look and feel”.
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Oxendales has introduced products from a number of third-party brands to its stable in recent times, including Mango, Phase Eight and Under Armour, as well as lifestyle brands such as Apple, Dyson and Fenty.
“Through a very ambitious digital transformation programme, Oxendales will continue to focus on the customer journey and create a more exciting, engaging and consistent retail experience across our platforms,” Mr Sweeney said in a statement. “The initial focus will be on executing a strategy which targets the delivery of growth through a simpler and more focused business; and underpinned by two key enablers: our people and talent, and a sustainable operating model that’s appropriate for a digital retailer.”
Profits before tax at Oxendale & Co slumped more than 96 per cent in the 12 months to the end of February from more than €5.2 million in the previous year, largely due to the cooling of the online shopping boom that prevailed during the Covid-19 pandemic, to just €200,859, accounts filed in March revealed. This occurred despite an increase in turnover from €23.8 million to €24.6 million year on year.
In a report attached to the accounts, the directors said the reduction in profit related primarily to “the decline in gross margin as a result of inflationary and market pressures” – gross margin fell from 59 per cent to 55.5 per cent – “and an increase in the group management charge aligned with the group’s intra group service agreement”.
The directors said the economic environment had been “extremely challenging” due to “significant increases in energy prices, general price increases and interest rate increases are putting pressure on household budgets and adversely impacting consumer confidence”.
However, Mr Sweeney said he was confident that there is “lots of opportunity” in the Irish market and that the consumer outlook is improving.
