Strategy

We pride ourselves on providing our customers with the latest looks at great value for money. Our flexible model and fashion supply chain means we can respond to ever evolving styles and easily adapt to consumer preferences through our multiple routes to market. We are an established destination brand for fashion-conscious women looking to dress for some of the most memorable occasions of their lives.

Strategy

The Group has a clear strategy to achieve long-term profitable growth by expanding the presence of the QUIZ brand across the Group’s omni-channel distribution model. The Group continues to focus on achieving its online growth potential through its own website, which has historically generated a higher contribution than revenues from third party websites, supported by a profitable store and concession portfolio.

We continue to firmly believe that the QUIZ brand has a clear, differentiated position in the market as an occasion wear led brand and continues to resonate with a broad age range of customers.

The focus areas of QUIZ's long-term strategy are as follows:

Optimising the omni-channel model in the UK

Against the backdrop of the long-term trends towards increased online shopping, we continue to believe that QUIZ's online channel offers significant future profitable growth potential. Therefore accelerating growth in our online offering through our own QUIZ website, as well as through selected third-party online partners appropriate to the brand remains a key strategic priority.

In addition, we plan to continue to strategically grow our retail presence across the UK through carefully targeted stores and concession locations. The Group believes that stores and concessions with appropriate cost bases will continue to make a positive contribution going forward.

Targeted international growth potential through capital light model

We continue to receive positive customer reactions to the QUIZ brand internationally and believe there is future growth potential across targeted geographic markets. QUIZ's product mix can be tailored for each market and we intend to continue to leverage our capital light international model to grow international sales with a key focus on the Middle East, Spain and the USA.

Managing gross margin

Management retains a firm strategic focus on managing gross margins, including through increasing full price sell-through and broadening the range of prices offered to customers so that we offer a wide range of options suitable for a variety of budgets.

Leveraging our cost base

The Group continues to carefully manage costs and will look to leverage off the Group's existing infrastructure as revenues grow. We continue to review our cost base to ensure it is appropriate for the revenues that will be generated going forward.

Developing our strong brand

QUIZ is a distinctive fashion brand which, over many years, has developed a specialisation in occasion wear and dressy casual wear for women. QUIZ's core business continues to deliver a distinct proposition that empowers fashion-forward females to stand out from the crowd.

We firmly believe that the QUIZ brand has a clear, differentiated position in the market with a specialisation in occasion wear and dressy casual wear for women, and the brand continues to resonate with a broad age range of customers.

Targeted marketing investments

Underpinning the growth and expansion of the QUIZ brand is the Group's approach to targeted and returns-driven marketing investment to grow awareness of and engagement with QUIZ, including through digital marketing and social media activity, influencer partnerships and above-the-line advertising.

A flexible, ethical supply chain remains a key competitive change

The business has a well invested infrastructure and a proven successful supply chain which allows us to source clothes in a responsible and ethical manner. This allows for the business to respond to customer demands and to provide on-trend product whether it be influenced by social media, the catwalk or television.

We continue to work to broaden our supply base and reduce any dependency on any one particular supplier or region, all the while maintaining our focus on ensuring products are sourced and manufactured responsibly. Our supply chain and ability to constantly refresh products for sale in store and online are strongly competitive advantages. QUIZ continues to introduce new products each week in order to meet customer demand as trends emerge throughout the season. The Board believes this remains an important component for success as customers increasingly access the options available of where, when and how to shop.