Dutch fashion group Cool Investments (America Today and MS Mode) hopes to return to growth and claim to see market opportunities, even if 2022 was not a complete success.
MS Mode sets its sights on France
MS Mode saw its net sales rise from 109.5 million euros in 2021 to 122.3 million last year. A quarter of sales are now made online. EBITDA remained relatively stable at 8.1 million euros, thanks to “differentiated price adjustments” and productivity improvements. Last year, MS Mode focused on a more segmented collection and a localised marketing strategies. The plus-size chain also worked on its omnichannel formula and customer loyalty.
CEO Dennis Mok now sees ample opportunities for expansion in France, both online and offline, in addition to continued growth in Benelux and Spain. He also aims for major digital launches: Cool Investments is focusing on AI applications for demand forecasting and stock management.
Back to the high streets
America Today, on the other hand, is still struggling. The chain “delivered disappointing results for most of 2022”, admits Kahn. Sales fell to just under 48.6 million euros, compared to 85.4 million a year earlier. Operating profit even plunged to 4 million euros under zero. The chain also closed ten shops. A new segmentation strategy, focused on specific target groups, proved ineffective.
Nevertheless, Cool Investments continues to believe in America Today. The chain will be adding external brands to its assortment and also wants to sell through more online marketplaces. America Today even wants to open a large number of new physical stores in the Netherlands and Belgium, as it already started in 2023.