We all have our favourite retailers, those fashion brands we turn to when we need a new pair of jeans, simple top or a nice dress. Retailers we trust, who we know how their clothes fit and like their prices. However how many of us actually no a lot about these retailers? Like their history, who owns them, their ethical standards and even how much the companies make or are worth? If you knew this information would you think twice about shopping there?
It seems according to this article that some of our favourite brands are actually owned by holding companies, and under the umbrella there are a number of top high street names. I find it interesting that Arcadia Group covers so many of the popular UK high street brands, or that H&M also has other brands in its group such as Cheap Monday and Cos plus smaller ones such as Weekend and & Other Stories.
Another eye opener is how much some of these companies are worth, for example Inditex has an annual net income of £903 million, which comes from its group of 8 8 international fashion brands; Zara, Zara Home, Bershka, Massimo Dutti, Pull & Bear, Stradivarius, Oysho and Uterque. Not only that owner Amanico Ortega the wealthiest retailer in the world and Europe’s richest man with a personal net worth of £50 billion.
Have a look for yourself.
As a savvy shopper I like to ensure I’m getting the best possible product at the best price, that doesn’t mean looking at big name brands or designer labels to get quality products. Just because clothes cost a lot of money doesn’t mean they are any better quality. Did you know that many designer and high end labels get their clothes made in the same factories by the same people who make clothing for lower priced retailer? You’re basically paying a premium for the brand name and not the quality of clothing.
One way to get the most from your savings is to use voucher codes and store discounts. All retailers I buy from, I get signed up for their emails, and you’re the first to know then about any planned sales or discount codes. Also check out websites such as My Voucher Codes who offer discounts for online retailers. Perfect for those like Boohoo and Pretty Little Things who are based solely online.
If you’re not fussed about having the latest trends then do think about purchasing clothes during the sales for the following year. Yes buying a heavy winter coat as we head into summer won’t see you wearing it anytime soon but you will save money buying in the sale and also have something ready for when the weather turns. Don’t forget charity shops, some people don’t like wearing clothes more than once or just prefer to update their wardrobe each season so if you have a keen eye head there for great savings or EBay which is also a treasure trove of unwanted items.