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Fashion powerhouse New Look has launched its inaugural loyalty programme, pledging weekly price reductions on garments for participants. The high-street chain, recognised for retailing clothing, footwear, and accessories , is introducing Club New Look nationwide, providing participants with exclusive price cuts, priority access, and competition entries. Becoming a Club New Look participant costs nothing and features a 25% reduction welcome online voucher on full-price merchandise. Participants will also benefit from exclusive club pricing, characterised as "weekly drops of special pricing on select full-price products". Club New Look will additionally grant customers priority access to sales, fresh launches and promotional occasions, plus entry into exclusive participant-only prize draws and competitions. Helen Connolly, New Look's chief executive, said: "Club New Look is our new loyalty proposition, designed to offer exclusive, added-value benefits that make our members feel seen, appreciated and inspired. "Following a successful soft launch, which saw 500,000 customers join our club , we are now aiming to have 800,000 members by the end of the financial year. We're excited to roll this out nationally as part of our ongoing strategy to create a more digitally driven, personalised and rewarding shopping experience." Earlier this year, it was reported that New Look's owners were exploring a potential sale of the high-street fashion chain as part of a strategic review. According to Sky News, private equity firms Alcentra and Brait - who took over the business in 2020 - have reportedly started talks with investment banks for a possible auction process over the next year. This comes after unsolicited approaches for the business, which operates around 340 stores and employs 10,000 across the UK. The news arrives just weeks after New Look announced a major restructuring, putting up to 100 jobs at risk at its London and Weymouth sites. This shake-up was understood to support the next phase of its digital growth strategy. In April, shareholders pumped £30m into the business to speed up this transformation, with the goal of doubling online orders from £500m to £1bn by 2030. New Look reported sales of £769m last year, reducing pre-tax losses to £21.7m from £88m the previous year. It also finalised a £100m refinancing deal in 2023 with Blazehill Capital and Wells Fargo to bolster its balance sheet. Earlier this year, New Look was reportedly planning to shut around 100 stores in an effort to tackle financial difficulties following the Autumn Budget tax changes. The brand continues to downsize its portfolio as roughly a quarter of its 366 UK stores are believed to be under review when leases expire, having once boasted 600 stores back in 2018. The closures are thought to be connected to the increase in the rate of employers' National Insurance Contributions (NICs), which rose from 13.8% to 15% on 6 April, while the threshold has been reduced from £9,100 to £5,000. Like many fashion retailers, New Look implemented a CVA during the pandemic, shutting shops and reducing costs to survive the crisis. A spokesperson stated: "Management is focused on running the company and executing the strategy for long-term growth. The company is trading well and has supportive shareholders."
