Russell & Bromley outlines five-year turnaround plan in pursuit of profitable growth

British footwear retailer Russell & Bromley has launched a five-year turnaround plan as it looks to return to profitable growth under the guidance of chief executive officer, Andrew Bromley.

Dubbed ‘Russell & Bromley ReBoot’, the plan is outlined by five key strategic components – brand & product, people, growth & expansion, marketing and operations – through which it will put an emphasis on refining the brand proposition, streamlining operations and driving market expansion.

In a release, Bromley said the “ambitious roadmap” would guide the brand “towards a new era of growth and restore profitability”, building on its existing “commitment to craft, innovation, service excellence and ultimately, reconnecting with our brand purpose of empowering customers to feel exceptional everyday”.

International expansion plotted, beginning with the Middle East in 2026

Its launch comes on the back of a challenging financial period for Russell & Bromley, which reported a 9 percent year-on-year drop in turnover last year, while its operating loss came to nine million pounds.

The company said that “macroeconomic headwinds combined with a period of significant growth investment” for ongoing transformation, including in the relocation of its headquarters and distribution centre last year, were behind the results.

Further struggles are anticipated upon the implementation of increases to Living Wage and National Insurance Cover as part of the UK government’s incoming Autumn Budget, which the company said was “adding further pressure to the already difficult trading environment”.

As such, a head office restructuring is also underway in a bid to streamline processes and organisational clarity under a leaner operating model.

Such changes to the operations of Russell & Bromley, however, intend to ready the business for stabilisation in the present year, particularly as it manoeuvres itself to begin international expansion, starting with the Middle East in 2026.