French Connection to move into homeware

French Connection is to launch a premium homewares range in April 2012, with a view to tapping this lucrative market segment that is thought to be worth almost £11 bn according to Verdict Research.

It is hoped the move into new markets will reverse French Connection’s dwindling fortunes that saw like-for-like sales fall 9.5% and pre-tax profits plummet by £1.8 million in Q3 2011. At the start of 2012 expectations for the group have again been lowered, with the UK retail division forecast to post a £9m loss for the year, against a £1.6m loss the previous year, according to house broker Numis Securities.

The homewares collection, which is being billed as stylish and contemporary with a comfortable feel, will be available online and in 10 of French Connection’s biggest stores. It will bear the strapline ‘I am Home’ and be based on a nautically-inspired colour palette with white, greys, navy blue and rusty brown tones. Items are to included blue stripey crockery, driftwood tables, bedding, vases, candles, glassware, soft furnishings and hand-woven wool and leather rugs. Prices will range from £4 to £275 for a ’safari’ chair’. If successful, the range will be rolled out further and an  autumn/winter range is already in development.