Fashion exits show executives not always made to measure
THERE'S been lots of chopping and changing in the boardrooms of the biggest womens' retailers of late. Just a few months after the sudden and unexpected exit of 'knicker queen' Janie Schaffer from M&S, another senior woman quit retail giant Asos after less than a year.
Kate Bostock unexpectedly quit, six months after joining as product director. Her swift exit demonstrates the crucial differences between traditional physical retailing and fast online fashion. "Bostock and Asos were "probably a mismatch," retail analyst Maureen Hinton said. "Her experience was in mass-market traditional retailing, not fast fashion."
Asos is something of a poster child among fashion retailers. Its stock has more than doubled in 12 months. But it takes more than one genius to sell clothes and Asos has coped well with other high-profile exits of late, so it looks like her departure is unlikely to do the firm's prospects any damage.