FUTURA MAGAZINE · February 2012

Retailers Feeling The Credit Pain......

Five years on, and it seems we are living in a very different world!
Back in 2007 banks were handing out mortgages to just about anyone and both banks and insurers were equally being generous to the fashion retail sectors and its associated suppliers. Credit insurance has always been more difficult in Ireland than in the UK but back then it was relatively easy. Now as retailers are being forced to close it has become hard for suppliers to secure credit insurance, thus making it impossible for existing retailers to source new brands while also making it impossible for suppliers to sell in certain towns right across Ireland. Some agents are having to take a personal guarantee with their customers and if they default, the agents are left hanging in the balance.
This, coupled with the tight squeeze on bank lending, is making it impossible for cash strapped retailers to invest in their business, to grow new brands and to consider investing in their business. It leaves them in a "limbo" position to continue with existing brands and unable to take a risk on something new, fresh and different which could help them fight their way out of this current problem.
Smaller retailers cannot survive without cash flow, this is a need which our government and our banks fail to address. Retailing has suffered again with a 2% vat increase and is experiencing the most difficult trading conditions in 30 years and no one is doing anything about it here in Ireland!
Working out credit plans with suppliers is now the normal. No longer can you get excited with a good sale, the excitement comes when the account has been paid.
On page 48 our legal adviser, Barry Lee from Adrian Burke takes us through a step by step plan on the legal route to collecting debts.
You may have noticed we have combined our issues this month to give you a comprehensive overview of the upcoming AW12 season across womenswear, menswear and footwear. As well as footwear trends for AW12, we bring you the lastest collection reports from all your favourite brands. With interviews, vox pops, shopcalls and much more, we hope you enjoy this issue. We are back with our March/April issue.

Jean Guerin
Features Editor

FUTURA MAGAZINE · January 2012

A Very Happy New Year to You all........

We hope this new year heralds a fresh start bringing with it positivity and renewed optimism. 2011 was without doubt a very difficult year. Even Christmas time, usually a time of overzealous spending, increased footfall and guaranteed sales proved difficult. For nothing is guaranteed anymore. To see how four major retailers fared during the Christmas sales, what they really feel about the 2% VAT hike and their plans for 2012, turn to page 8.
There has been a lot going on in the world of retail since our last issue, not all of it good unfortunately. On page 7, we bring you the latest on the Barratts and La Senza closures and the industrial action of Primark in Northern Ireland. In other news, we are pleased to announce that the Fashion City Fashion Event is going ahead at the end of February and we will have all the details on that in our next issue.
For all you need to know on upcoming trends for autumn/winter 12/13, head to page 14 followed by our collection reports on page 16. You will find the latest updates on all upcoming shows in Showtalk and reviews of shows that have already occurred such as Showcase Ireland which was the best one yet!
We wish you a prosperous 2012.

Jean Guerin
Features Editor

Well it's that time of year again...

Well it's that time of year again. No, not Christmas time, Budget time! As Ministers Noonan and Howlin delivered the blows, I couldn't help but think that if Santa is doing his Naughty and Nice list this year, I have no doubt as to which side these guys will be on. The savage new Budget hits people where it hurts, including retailers. Despite much opposition, the 2% increase in VAT has been introduced and despite promises galore, no provision has been made for tackling the upwards-only rent reviews. 2012 it seems is going to be a tough year.

In other news, the Chinese Hub in Athlone has been given the go ahead for phase one. It is hoped that this development will give a much needed boost to trade, employment and tourism in the country.

This is our special trade show issue for 2012 where you can find all you need to know on upcoming shows and our handy event planner with all show dates marked which can be kept and hung up so you may never miss a show!

As 2011 draws to a close, I spoke to some of Irelands' retailers to find out how this past year treated them. To see what they had to say, turn to page 14. From talking to them, I know it has been a tough year on everyone so I hope you all have a very prosperous Christmas selling season.

Jean Guerin
Features Editor