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Why fashion brands fail – from Topshop to Andrea Moore
Kiwi shoppers are increasingly swapping high street fashion brands for cheaper, fast fashion brands, leading to the demise of some big labels, retail analysts say.
With the rise of online shopping, consumers are now faced with more choices to "tempt their spending", First Retail Group managing director Chris Wilkinson says.
In the past year, five high street fashion brands have collapsed in New Zealand, including Kimberleys, Topshop, Topman, David Lawrence, and Marcs. The latest is Kiwi fashion brand Andrea Moore.
Increased online competition from overseas retailers, changes in consumer spending, payment defaults, and extensive roadworks are among the reasons given for the downfall of these brands.
Read the full article by Chloe Winter > Business Day - stuff.co.nz