4 Easy Steps to Turn a Brand Around
Take an old British brand, add a top British international style icon, throw in a good Creative Director, roll out stores and BINGO! You have a successful turnaround for Kent & Curwen, a brand that had been in the doldrums for many years.
Trinity Brands Acquisition
In 2008, Kent & Curwen was acquired by Trinity Brands UK Limited, under the umbrella of the well-known Li & Fung Group that specialises in supply chain management for fashion brands. The scenario for Kent & Curwen was possibly taking a turn for the better after years of losses and store closures.
Seven Global Deal and David Beckham
In 2015, Kent & Curwen entered into a 5-year business partnership with Seven Global, co-owned by David Beckham and Simon Fuller. It was reported that Beckham was paid a seven-figure amount to play a multifaceted role in driving the brand’s business globally as well as investing in the brand itself. Beckham’s involvement included:
- product development,
- market expansion inspired and influenced by the ex-footballer
- advertising
- store design and location
According to the Financial Times, Trinity Brands agree to pay Seven Global a cut of up to 10% of Beckham-related sales with a minimum guarantee of £2.8 million in the first year and £5.8 million by 2020. The annual payment was capped at £6.3 million in any given year.
Enter Daniel Kearns
In 2016, Beckham appointed designer Daniel Kearns of Alexander McQueen and John Galliano fame, to spice up Kent & Curwen’s traditionally staid and unadventurous fashion offerings.
A Perfect Fit
David Beckham seemed the perfect choice for Kent & Curwen. The multi-hyphenate had received worldwide recognition as an international football star, a brand advocate, a model and as an entrepreneur. His wife, Victoria had a namesake fashion brand which had been enormously successful, providing that you ignore the losses that other designers such as Alexander McQueen, Stella McCartney and JW Anderson have had to face. Victoria Beckham pumped her own money into her brand, created jobs and placed a positive spotlight on the British fashion industry.
Richard Cohen, CEO of Trinity Limited, said:
“We are honoured to have David play a substantial role within the future development and management of the Kent & Curwen business. Sports-related men’s fashion is a significant growth opportunity in China and beyond, and I am confident that David, as a global icon, will enable us to engage more deeply with existing customers, and attract a new clientele to the brand.”
Of his role at Kent & Curwen, David Beckham said:
“I’m always looking to work with brands and companies that have a rich history and authenticity. When this authenticity is rooted in the country that I came from, it attracts me even more to the partnership. What I love is that Kent & Curwen has a pedigree and excellence that has been passed not just through generations of Britain’s most celebrated style icons, from Laurence Olivier to Michael Caine and Mick Jagger, as well as many others who have worn their products. Our aim is to build on its existing popularity and success in China and establish it as a powerful brand globally.”
What Happened Next
The Kent & Curwen UK stores, in Piccadilly Arcade and on Conduit Street in Mayfair, both in London, were closed. Beckham orchestrated the opening of stores in Covent Garden and East London as well as implementing an e-commerce site.
The Beckham’s attended London Fashion Week 2018 in recognition of the Kent & Curwen 2019 Spring-Summer capsule, a collaboration with indie band The Stone Roses. At the show a year later, the couple supported the brand’s collaboration with the successful BBC TV show Peaky Blinders. All seemed good for Beckham and his brand.
Bad News for Trinity
For Kent & Curwen’s holding company, Trinity, the news was only bad. Filed accounts show that the brand had a measly turnover of £276,000 in 2017 and £845,000 in 2018, accompanied by significant losses. Trinity UK made losses of £18 million in the 3 years to 31 December 2018, but that sum includes losses from other brands. We believe that the bulk of £18 million losses were from Kent & Curwen.
In China, Trinity opened over 80 new stores which appear to have flopped.
Trinity Gives Up
After owning Kent & Curwen for 12 years, Trinity eventually threw in the towel. In April 2020, Kent & Curwen was bought out by Shandong Ruyi International, a company Vogue Business monikered ‘the LVMH of China’. Shortly after, David Beckham announced his split with the brand.
Sad and Strange
It seems odd, and somewhat sad, that a fashionista of such great influence, a brand icon who has represented H & M, Haig whiskey, Adidas, and Emporio Armani, could not help Kent & Curwen rise to the occasion. Even the Peaky Blinders collaboration and teaming up with British band The Stone Roses was not enough for Kent & Curwen to keep Becks in the fold. Who knows what else the brand may lose? Or the footballer?
