The Young Entrepreneurs Taking Retail In A New Direction

by MR Magazine Staff

Despite the growing challenges within the retail sector and the looming uncertainty of Brexit impacting consumer confidence, independent brands are on the rise. According to GS1 U.K., the standards body that licenses barcodes, the number of SMEs joining the retail sector has grown, with small businesses representing 84% of its new members. With big retailers running into trouble, with the likes of Marks & Spencer and Debenhams cutting jobs and closing stores, who are the new businesses coming to taking their place and who are the people behind them? Fast-growing brands like Glossier, Never Fully Dressed and Everlane, have been luring more shoppers not only limited to online, they all have bricks-and-mortar presence too. Each with distinct and inimitable brand DNA, which has allowed them to optimize their direct-to-consumer models, the other common factor between them is that all of these companies were founded by people who were then in their early twenties. Read more at Forbes.