ECONOMY

Bold steps by Prince Oliver firm

The Prince Oliver clothing chain has been promoting some interesting, albeit unorthodox, restructuring moves over the last few months, aimed at increasing its market share. The men’s apparel firm invites customers to become members so that they can buy additional products depending on the money they spend. The company’s intention is for the brand to gain strength during this difficult period for the market while at the same time reducing stock levels. This decision may deprive the company of profits for the first two years, but its market share is set to increase and the brand will be consolidated at a time when others are struggling. The offer will last at least until the end of 2009, while the chain is also preparing to restructure its network in an attempt to cut down on expenses. With this in mind, the company is examining the option of selling a children’s collection from May and women’s wear from September at its outlets under the same name.