The rebranding initiative undertaken by Moss (formerly known as Moss Bros, represents a pivotal strategic move aimed at aligning the brand with contemporary consumer preferences and modern retailing practices. The rebranding strategy represents a forward-looking approach that bridges its rich heritage with the demands of a modern, diverse, and digitally-oriented consumer base.
It’s been a triumphant fiscal year for the Moss Group, demonstrating remarkable growth. This has been thanks in part to the implementation of a strategic rebrand, expanding its physical footprint, entering new marketplaces, overhauling its digital presence, and diversifying its product range. All of which means the company has celebrated another year of robust performance.
A pivotal transformation was the strategic expansion into the casual wear sector, extending its offerings beyond traditional formal attire. This strategic shift has emerged as a significant revenue driver for the brand.
Moss Group reported a remarkable 63% increase in turnover, surging from £93.1 million to an impressive £151.6 million, notably surpassing the £128.3 million recorded in the previous fiscal year.
Profit, measured on an EBITDA basis, exhibited substantial growth, rising to £36 million compared to the previous year’s £17 million, and a significant improvement from the pre-pandemic season of 2019/20 when it stood at £5.2 million.
During the reporting period, Moss Group expanded its physical footprint by launching five new Moss stores and relocating three existing ones. Notably, the brand’s flagship store in Manchester is emblematic of an innovative retail concept that seamlessly blends contemporary design with timeless elegance. Characterised by a spacious layout and the sleek, pared-down interior aesthetic that has become synonymous with the brand’s recent store openings, the Manchester flagship promises an unparalleled shopping experience.
The strategic expansion efforts extend beyond Manchester, with successful store openings in Watford and Oxford over the past six months. These expansions reinforce Moss’s commitment to delivering exceptional craftsmanship and quality through its tailoring service ‘Custom Made,’ enabling customers to create personalised suits from scratch.
Brian Brick, CEO of Moss Group, expressed enthusiasm about the new Manchester store, stating, “Our new store in Manchester is a celebration of everything Moss stands for today; modern British menswear and accessible style for all. We are excited to reintroduce the brand and our incredible AW23 collection to the discerning shoppers of Manchester, offering them a space to explore our product and experience our expertise first-hand.”
While this fiscal year marked significant changes for the company, it’s important to note that the business transformation began before the onset of the COVID-19 pandemic. However, the pandemic accelerated the need for adaptation. Lockdowns and the subsequent lifting of restrictions presented an opportunity for the company to refocus and address the evolving needs of today’s menswear customers, a strategy that has undeniably yielded impressive results.
This transformative journey extends to Moss’s online presence, where the website has been redesigned for a cleaner, more user-friendly experience. Product presentation has been refined to offer a more editorial and aspirational perspective, broadening the brand’s appeal.
The commitment to meeting evolving customer expectations is further evident in the introduction of new and value-added services, such as the ‘suit builder’ for custom-made tailoring, a swatch service for shoppers, and the convenience of online store appointment bookings.
Despite these digital investments, Moss Group underscores its unwavering commitment to the high street. Physical stores and the expertise of style advisors continue to play a pivotal role in delivering an exceptional brand experience to its audience. This commitment underscores Moss’s adaptability and commitment to meeting the diverse needs of its customers in a rapidly changing retail landscape.