New Look turns up the heat on rivals

FASHION retailer New Look appears to be flourishing under private ownership.

Eight months after it was taken off the market by founder Tom Singh - with the help of venture capitalists Permira and Apax Partners - it weighed in with Christmas trading figures that its stock market rivals would kill for.

Total revenues grew by 18.8% in the 14 weeks to New Year's Day, while underlying sales were up a healthy 11.6%.

Chief executive Phil Wrigley reckons the group is taking more risks now it is not publicly listed.

New Look has bulked up its team of designers to 22 from seven and invested heavily in new distribution facilities.

Both gambles are paying dividends. New designers have quickened the pace at which New Look can copy the latest fashion trends.

And its logistics are so sophisticated that slowselling ranges can be binned at little cost.