Have An Attitude Not An Ad.
Last year I told you about the local couple who built a clothing chain with a turnover in excess of £100 million while having no marketing department and never running an advertisement.
Today Ray Kelvin founder of clothes retailer Ted Baker (market capitalisation £250 million) declares a similar approach in a very rare interview.
..we don’t do valuations and market research; we have an attitude rather than a target market and we don’t advertise. We have a Ted Baker culture instead; people come into the shop and get Ted-ucated. If customers feel like they have discovered a brand themselves, they become much more loyal.
Is this uniquely applicable to the UK clothes retail market? I don't think so.