Retail guru Davies to revive high street with GIVe stores
RETAIL veteran George Davies is set to open the doors to his new stand alone shopping venture, GIVe, this Autumn.
Davies, the founder of high street fashion store Next, Marks and Spencer’s womenswear range Per Una and Asda’s George clothing line has ploughed £20m of his own money into the chain.
The much-hyped launch comes amidst a high street slump, which has suffered from the downturn, but Davies is hoping that the fresh launch will surprise rivals and lure jaded shoppers.
GIVe will open its first flagship store on Regent Street in the coming months, along with 24 other regional and shopping centre locations.
The retail entrepreneur left his role at M&S at the end of last year, seven years after he launched Per Una. His relationship with executive chairman Stuart
Rose was said to be fraught at best. He famously walked out in 2005 after a dispute over pay, only to change his mind a few days later.
GIVe is aimed at women 30 and upwards, priced above M&S but below international designer brands.
Davies hopes to give five to 10 per cent of profits to charity and expects to see sales of £50m to £60m.