Russell & Bromley seeks funding to accelerate ReBoot turnaround plan

British luxury footwear and accessories brand Russell & Bromley has announced the next phase of its ReBoot turnaround plan, which involves seeking external financing to accelerate its future growth.

The ReBoot plan, launched in February this year under CEO Andrew Bromley, is an ambitious five-year roadmap designed to return the family-owned brand to sustained profitability. Following the announcement, the company named its first-ever creative director, Daniel Beardsworth-Shaw in June this year.

CEO Andrew Bromley commented, “We are currently exploring opportunities to help take Russell & Bromley into the next phase of our ReBoot vision. Since the announcement of the ReBoot earlier this year we have made significant progress, positioning us well to build on our momentum and continue along our journey."

He added that the company is "looking forward to working with our advisory team to secure the necessary investment to accelerate our expansion plans.”

The search for investment followed a challenging period where the company reported a 9 percent drop in turnover to 56.5 million pounds in 2024, resulting in an operating loss of 9 million pounds. The company has not been profitable on an operating basis since 2019, before the pandemic. However, the year also witnessed significant changes, including relocating its headquarters to Kingly Street in Soho and distribution centre to Corby, Northamptonshire to drive efficiency.

Russell & Bromley currently operates over 36 stores across the UK and Ireland.