Word: farquhar
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...been here before. Graham Farquhar, a partner in Ernst & Young's employment tax division, says the mad rush "is reminiscent of what we saw during the downturn in 2001," with employees suddenly acting on perks they may have forgotten were on offer. Katarina, who lost her marketing job with a cosmetics firm in Frankfurt, joined a gym before her last day to secure a corporate discount, which saves her $40 a month. "I've been unemployed for the past month but my gym membership is still the rate of a working person's," she says...
...sliding since, down to $20 million last year. The slump is largely due to increased competition - not only from rival charity shops, but also from discount retailers like Primark and Peacock, which sell trendy new clothes at prices nearly as low as those found in secondhand shops. Says Sarah Farquhar, Oxfam's retailing head: "We realized we needed a different clothing-business model...
...often find real gems buried within the jumble of dull duds packed into ordinary shops. Oxfam had already had good success with other types of specialty stores: it has 120 used-book shops in the U.K. and recently opened five shops dedicated to selling used vinyl LPs and CDs. Farquhar says the Notting Hill shop's makeover should increase that site's revenues 100%. The boutique's average sale is $40, four times the average sale at a regular outlet. The other two Oxfam fashion boutiques are in the wealthy London enclaves of Chelsea and Chiswick. Oxfam expects to eventually...
...There is no shortage of stock, and nothing goes to waste. Oxfam receives around 150 tons of clothes each week, which are typically sold at the shops that receive the donations. That's why the designer boutiques are expected to work best in posh areas. "Like attracts like," Farquhar explains. Clothes deemed unsuitable for sale at individual shops end up at Oxfam's "wastesaver" operation in Huddersfield, north England. From there, some are sold via Oxfam's online shop, while others are sold in bulk to dealers in developing countries. Clothes that are completely unwearable are shredded and sold...
...Clearly, dresses from Pucci and Diane von Furstenberg aren't shredder bound. But who are their likely buyers? "Women looking for value for money," Farquhar says. "People who want something different to express their individual style, who like mixing pieces together." Women who initially come in attracted by the new fair-trade labels are buying used items, too, she says. So far, secondhand merchandise accounts for half the shop's sales. On a recent weekday morning, a range of shoppers, young and old, came in to browse or buy. Twentysomething Caroline Dunlevy, who was making her second visit since...