LONDON — Two British luxury labels — Bamford and Pringle of Scotland — are restructuring operations and reducing staffs, sources said.
Bamford, the British ready-to-wear and accessories label that specializes in ethical sourcing and organic materials, has made two rounds of layoffs since January. It imposed a significant number of job cuts at its head office here, with more expected, according to industry sources.
One source familiar with the company said Bamford has not been able to secure the funding it had been seeking to expand the business.
Last fall, the billionaire Bamford family, whose businesses include Bamford, Bamford & Sons men’s wear and the Daylesford Organic upscale food business, hired Blackstone Group to help explore strategic options, including potential partners.
The family said it was seeking new partnerships in order to help their brands expand on an international level and into new markets.
The source added the company also was looking to slow its wholesale expansion, and may not be adding new accounts. Bamford is currently carried at stores such as Bergdorf Goodman, Barneys New York and Harrods.
A spokeswoman for Bamford couldn’t be reached for comment.
Meanwhile, a restructuring is under way at British rtw and knitwear brand Pringle. According to sources in London and New York, the brand is re-thinking its overall strategy and looking at ways to improve business in the tough economic climate. As a result, several members of the design, marketing and retail teams have been let go. However, sources said there may be some new hires in the coming weeks. The company also is considering moving its runway show from Milan Fashion Week to London Fashion Week in a bid to save money.
A spokeswoman for Pringle declined to comment.