The story of Joe Fresh is one that really interests me. The launch of a clothing line within retail grocery chains was a bold move both on part of Loblaws Company and as Joe Fresh a clothing company. Who would have expected the day for us to buy our broccoli and blazers side by side? Now this concept may not be completely foreign to us now with stores like Wal-Mart and Costco carrying both, but Joe Fresh stood as a strategic risk for the Weston family to find profitable margins in the ever so competitive Canadian grocery store industry. What amazes me is this stylish, fresh and affordable brand has gained recognition in the Canadian- HIGH fashion industry with it’s looks being featured on the runways of LG Fashion Week in Toronto last April. But mind you, perhaps it’s not so out there given the Galen Weston Family owns Holt Renfrew.
Joe Mimran, the name behind the brand is taking an even bolder move by opening up a Joe Fresh flagship on 5th Avenue blocks away from the Club Monaco he established a decade ago. With a shift in low cost fashion leaders like Zara, Forever 21 and HM- such companies succeed of their economies of scale. It would be crucial for Joe to follow the same footsteps by establishing a stronger retail base outside of the grocery retail stores. Steps are already being taken with a semi stand alone store located at Queens Quay and stand alone stores opening this week in Vaughn Mills and Bramalea City Center.
I look to Joe Mimran as an inspiring fashion designer but more so a strategic and wise business man. He took a huge leap of faith in pursuing this brand and till today some question how it works, but by fully understanding his consumers and their buying trends he landed prime real estate for his $1-billion annual in sales brand.
Congrats Joe on 5 Years well done!
