Sports Direct IOM

[Lxxx]

1 minute ago, Andy Onchan said:

Because that's where the money was/is, allegedly?

Even the older generation of today aren't immune from clever marketing. 

[thesultanofsheight]

1 minute ago, Lxxx said:

Peter Luis was stuck in the last century and his stock reflected that. Flannels is new, shiny, sells the names women of today want to be seen with and there are a whole host of banks lined up offering credit cards for the ones who don't quite have the depth of bank account to splash out on the hoof. 

Don't get me wrong stock won't be flying out the door but the people who opened it will have done enough research.

I'm not sure it was. Tynwald Mills isn't that different either; they end up discounting a huge amount of stock in the sales and they dont really have the turnover you'd expect them to have from the monied pockets of Manx society. There aren't that many banks offering credit now either as the UK banks and card companies generally have problems offering credit to Manx residents. It's very sad though if people are borrowing money to buy Chinese made crap that will end up in a skip in 2 years time. 

[Andy Onchan]

Anyway, I'm convinced the reason for the existence of outlet is to cover themselves legally for items on sale elsewhere at discounted prices.

[thesultanofsheight]

1 minute ago, Andy Onchan said:

Anyway, I'm convinced the reason for the existence of outlet is to cover themselves legally for items on sale elsewhere at discounted prices.

That's an expensive strategy. 

[Lxxx]

It looks nice anyway. I won't be shopping in there but it makes a pleasant change from walking past and seeing fridge freezers.

[woolley]

25 minutes ago, Andy Onchan said:

But for at those prices I don;t mind seeing someone else wearing the same. If I was spending a 850 squid I'd expect to be uniquely dressed.

Fill your boots, Andy. At that price in Douglas I expect you will be!

[notwell]

8 minutes ago, Lxxx said:

Peter Luis was stuck in the last century and his stock reflected that. Flannels is new, shiny, sells the names women of today want to be seen with and there are a whole host of banks lined up offering credit cards for the ones who don't quite have the depth of bank account to splash out on the hoof. 

Don't get me wrong stock won't be flying out the door but the people who opened it will have done enough research.

By the way some people talk on here you would think Sports Direct (and JD Sports) did no research whatsover.

That sort of ticket price isn't about high volume.   It won't be in any of the other 20 or so stores they have around the country either.

Any volume will come at sale time.   And it looks like they are putting a USC in there as well and I expect there will be some sort of theory about USC customers can potentially become or upsell themselves into Flannels customers.

Could you imagine if Ashley had some of the people on here as advisers?  He'd never have opened a store anywhere.

 

[Andy Onchan]

Just now, thesultanofsheight said:

That's an expensive strategy. 

Not really. They only need 2/3 items in the shop of everything they sell. They can still be sold at their full value in IOM but elsewhere they can be reduced to sale items.  If their margins across the whole brand allows them to make profit that covers IOM expenses then why not?

[thesultanofsheight]

11 minutes ago, notwell said:

By the way some people talk on here you would think Sports Direct (and JD Sports) did no research whatsover.

They don't do as much as you'd think. It's just a numbers game to them and as a property asset I'm sure the precinct plan works even if the shops don't make money as they'll flip it at some stage. Flannels will be shut inside 3 years would be my guess unless as Andy says there's a tax and stock washing reason why the Manx store is being set up. There is simply no market in the IOM for that sort of overpriced tat. 

[woolley]

1 hour ago, Andy Onchan said:

 The current Mrs Andy would never dream of spending the equivalent of 850 squid of hard earned cash in a chain store in the hope that she was going to look unique. A one off may be, but not from a retail chain.

Tell her she is marvellously unique whatever she wears and would look wonderful in a bin bag.

[Andy Onchan]

1 minute ago, woolley said:

Tell her she is marvellously unique whatever she wears and would look wonderful in a bin bag.

Tried that already Woolley, it doesn't work. She saw it coming, but I didn't as I got a belt round the ear!

[woolley]

I must be lucky. Mine prefers to put the boots on and go for a walk in the hills. Can't abide shopping and only does it when she can't avoid it.

[La Colombe]

12 minutes ago, woolley said:

I must be lucky. Mine prefers to put the boots on and go for a walk in the hills. 

It sounds like she's having an affair to me. 

[2112]

2 hours ago, Andy Onchan said:

The Island's too small for a designer clothes chain. Think about it.... your missus goes to a charity do and across the room is another woman wearing the same thing one size bigger. And they've both paid whopping great wads of cash. 

The current Mrs Andy would never dream of spending the equivalent of 850 squid of hard earned cash in a chain store in the hope that she was going to look unique. A one off may be, but not from a retail chain.

What you say is probably in some respects correct. There is no right or wrong answer. Either people pay the prices or don't pay the prices. Either people buy from Flannels or whether people buy from Flannels when they have stock on the reduced or in the 'bargain basement bin' remains to be seen. I would argue its about choice, and all said and done, 'the customer is king, and is always right!'

It doesn't matter to SD one way or another, as the Strand Centre in all due respects, has been bought and paid for, and SD own the building and one of their companies/businesses are there. They haven't got the overheads of Rent and Service Charges to pay, unlike other businesses based there previously such as Mothercase, HMV and Millets. If you think about it, how many other shopping centres do Sports Direct/Mike Ashley own? I would say, very few.

If Flannels isn't successful, im sure another one of Mike Ashleys businesses or companies which SD group have a stakeholding in, could take over the unit.

Whilst the stock in Flannels is expensive, I have found that if you can see the clothing/watch/shoes etc on the shelves and either try it on or handle it, you don't have to buy it - you are perfectly at liberty to go away and look on the internet, you may get it cheaper on Amazon or Ebay.

[woolley]

18 minutes ago, La Colombe said:

It sounds like she's having an affair to me. 

If she starts coming home in the designer gear I'll agree with you.