END. Clothing’s parent company Ashworth & Parker recently reported a £43 million loss for the year up to March 2024 due to current retail headwinds & a failed stock system.
You’ll probably remember in 2022 when people started to talk about END. It wasn’t the usual “I bought this item from END.” flex it was more “where is my item from END.?” as the luxury retailer struggled with massive logistical issues after implementing a new stock system. Orders were going out late, if not at all, as the phenomenal growth the Newcastle born retailer had experienced over the last 10 years seemed to come to a sudden standstill. The new stock system created a multi-million pound hole in the parent company Ashworth & Parker’s accounts. Combined with a cost of living crisis and a global slowdown on luxury clothing, of which the retailer have really tapped into over the last 5 years stocking brands like Burberry, Gucci & Maison Margiela, END. reported a pre-tax loss of £43 million for the year up to March 2024. Compared to the £9 million profit that was reported the previous year, overall sales were down 3.8% to £212.7 million. As END. desperately tried to shift old stock from the aftermath of their new stock system a few years ago discounting has seen their stock inventory come down from £92.7 million to £62 million compared to the previous year.
Founded back in 2005 by Christiaan Ashworth and John Parker, END. has built its highly respected reputation through in its own words “globally sourcing menswear”. From working with some of the most world renowned names in the streetwear & sneaker game, END. has built a global following from emerging designers to the most hyped sneaker releases. Back in 2021, The Carlyle Group purchased a majority stake in END. valuing the luxury retailer at £750 million. The deal in 2021 was financed by the private equity group Apollo Global Management (APO). In October 2024 it was confirmed that Apollo had acquired END. in a agreement from lenders and shareholders to recapitalise the business.
With a weaker demand for luxury items, END. have had to increase its promotional activity (marketing) to shift the same stock that would have previously probably just sold itself. As retailers, marketplaces & resale platforms battle it out for top search terms, SEO, socials & app users the winners will always be the ones with the biggest marketing budget. 2024 has seen END. collaborate with Polo Ralph Lauren, Reebok & the legendary artist Mike Skinner alongside events with adidas SPZL & Skepta to name a few.
As END. moves into 2025 its stock levels are now back to “healthy” levels with a focus on the coming Spring/Summer 2025 season there’s probably not much really that can slow down the retail powerhouse even if its accounts are showing (currently) as in the red. Also don’t forget to subscribe to Sneaker Jobs & follow @sneaker_jobs to keep up to date with all the latest industry news.
