×
187
Fashion Jobs
AESOP
Retail Consultant | Part-Time (30 Hours) & Full-Time | Aesop City of Stockholm
Permanent · STOCKHOLM
ASICS
Sales Representative
Permanent · Stockholm
PUMA
Senior Key Account Manager Sportstyle Nordic
Permanent · Solna
H&M
Global Head of Marketing h&m Sport
Permanent · Stockholm
H&M
Project Leader For Material Certification And Material Trademark Within Group Compliance
Permanent · Stockholm
PUMA
Senior Sports Marketing Manager Cobra Puma Golf Europe
Permanent · Solna
PUMA
Project Manager IT Sap
Permanent · Solna
PUMA
Senior Manager Merchandising Puma Golf Europe
Permanent · Solna
H&M
Art Director – h&m Group Communications
Permanent · Stockholm
H&M
Data Analyst to Predictive Analytics Team @h&m Business Tech
Permanent · Stockholm
H&M
Data Analyst to an Inventory Optimization Team in Business Tech
Permanent · Stockholm
H&M
Business Minded Data Specialist to h&m Group
Permanent · Stockholm
H&M
Scrum Master (Service Now) to Support And Operations Toolings Team at h&m Business Tech
Permanent · Stockholm
H&M
we Are Looking For Business Intelligence Analysts to Group Expansion, h&m
Permanent · Stockholm
H&M
Business Intelligence Analyst
Permanent · Stockholm
H&M
Cyber Security Trainer
Permanent · Stockholm
H&M
Security Advisor
Permanent · Stockholm
H&M
h&m is Looking For a Business Expert For Allocation Precision
Permanent · Stockholm
H&M
Power bi Specialist to Kpi Dashboards Within Business Tech
Permanent · Stockholm
H&M
ai Learning & Development Manager
Permanent · Stockholm
H&M
Import-Export Manager to h&m Distribution Centre in Eskilstuna
Permanent · Eskilstuna
H&M
Scrum Master to Support & Operation Tooling, Monitoring & Insights Team at h&m Business Tech
Permanent · Stockholm
Published
Apr 9, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Warpaint takes coronavirus hit, cuts costs, working towards Christmas season

Published
Apr 9, 2020

Warpaint London, the specialist beauty products maker and owner of the W7 and Technic brands, has issued another coronavirus update showing how much of an impact the pandemic is having.


W7


It said that prior to the recent lockdowns, its current year trading to the end of February 2020 “was at the upper end of the board's expectations”.  

However, since the firm’s last trading update announced on March 19, there has, “as anticipated, been a substantial reduction in sales as a result of the lockdowns causing the closure of many of the group's customer's retail outlets in the UK and its other markets”.

This means “most customers are currently reducing, deferring or cancelling orders of all-year-round cosmetics”. But the company continues to sell online and through those stores stocking its products that remain open.

To deal with this hit to its revenues, it has launched a number of “significant” cost-cutting measures, which include reducing non-essential spend, furloughing 84 of its 115 UK staff while maintaining their salaries via the UK Government's Coronavirus Job Retention Scheme, landlords agreeing to defer rental payments, and the suspension of all marketing, travel and other discretionary expenditure. 

Staff who haven't been furloughed are mainly working on its 2020 Christmas order book, “which continues to build”.

It also said that at April 8, the company had cash of £3.3 million and hire purchase and term debt of approximately £500,000.

CEO Sam Bazini said: "The wellbeing and health of our employees is of paramount importance and we are doing everything possible to support them and to ensure that they are well protected in these difficult times. The current situation is challenging, but I am confident that Warpaint with its differentiated product offering, strong balance sheet and ability to react quickly to changes in circumstances is well positioned to withstand the Covid-19 pandemic."

Copyright © 2022 FashionNetwork.com All rights reserved.