On a practical level, what are the kinds of things a business can do if it is under pressure?
When a household comes under pressure, there are only a few levers to pull, whereas businesses have many more levers at their disposal.
There are the obvious ones, like reducing costs, stock levels, capital expenditure and debtors as these have a positive cash impact.
Some of the more difficult ones can include adding capital, or introducing new shareholders into the business – this was something we did which was beneficial on numerous fronts.
In difficult times, businesses should be looking at each of these very seriously and be prepared to make the appropriate calls, and that includes investing in new initiatives.
One such example for us was the complete overhaul of the technology systems whilst we were in lockdown.
No small task to do remotely – but it’s been instrumental in helping the business through these tougher times and a great platform for our future.
COVID has changed how a lot of people work, with many now working at home more. How has that changed the clothes that people are wearing?
Track pants and sweatshirts were great when people were working from home, but now they are returning to the workplace there is a new expectation on their wardrobe.
There’s no denying that feeling comfortable is at the core of what we wear and the shift back to the office hasn’t changed that.
Whilst tailoring is part of our DNA – COVID has pushed us to be even more innovative in a space we know very well.
We recently rolled out a merino ultra stretch suit that almost feels like you’re wearing a tracksuit, so far this has been picked up by our customers really well.
Stretch shirts and blazers fall into this too and over the next few months you’ll start to see more of these comfort items in our collections.
Another change we’ve seen since October is that events have returned - more specifically weddings.
Brides and grooms can now book their big day with confidence. On top of this there’s been over 2 years of catch up.
This also includes corporate black tie events and we’ve seen a surge in these over the past six months too. It’s fair to say we’ve been busy.
It’s great to know Kiwi men haven’t given up on suits, and still enjoy the opportunity to dress up when they have the opportunity to.
Even in tough times, when there are difficult decisions to make, it’s great to be able to find opportunities to come together and celebrate, when we can.