ANOTHER RETAILER FEELS HIGH STREET PAIN
The past four years have been a bumpy ride for the man who plastered the country with FCUK and made a fortune on the clever and intentionally mischievous four letter logo.
Stephen Marks would have been forgiven last year for thinking that French Connection had put its darkest days behind it.
After a painful restructuring in 2009, which forced Marks to sell-off the Nicole Farhi brand and retreat from Japan, the company seemed to be on the mend and posted a return to profit in March last year.
In August, Marks told investors that UK like-for-likes were improving and that it could approach “the important winter season with confidence” despite the tough economic environment.
However, just months later the picture had changed and Marks has described the past winter season as “the most difficult” in all his years in the business.
Born and brought up in Harrow in north London, Marks, now 65, founded French Connection with Nicole Farhi in 1972 after starting out in the rag trade making women’s coats. He still owns a 42 per cent stake in the retailer.