Monsoon Accessorize#Monsoon

Monsoon was started in London in 1973 by Peter Simon, a market-stall trader, and opened its first shop in Beauchamp Place in May of that year.{{r|telegraph1}}{{cite web |author=Laura Heywood |url=http://www.retail-week.com/companies/monsoon |title=MONSOON: Latest news, analysis and comment on Monsoon |publisher=Retail Week |date=21 August 2013 |accessdate=3 May 2014 |archive-date=5 May 2016 |archive-url=https://web.archive.org/web/20160505201646/http://www.retail-week.com/companies/monsoon |url-status=dead }}{{cite web|url=http://www2.monsoon.co.uk/comphistory.htm |title=Monsoon - company history |publisher=Monsoon Accessorize |url-status=unfit |archiveurl=https://web.archive.org/web/20060423084619/http://www2.monsoon.co.uk/comphistory.htm |archivedate=23 April 2006 }} Archived 23 April 2006. The first Accessorize shop opened in 1984, next door to Monsoon in Covent Garden.

In 1994, a registered charity, the Monsoon Accessorize Trust, was set up to help under-privileged women and children in Asia.{{r|nyt|fund|christ}}

The company was listed on the Stock Exchange in 1998. In 2007, Simon paid £185 million to take it private again.{{r|guard2}}

In 2009, the company moved to a building designed by Allford Hall Monaghan Morris in Notting Dale.{{r|arch}} The company's collection of some 300 works of modern and contemporary art is housed there.{{r|nyt|artnews}}

From early 2013 to February 2015, John Browett, former head of retail at Apple, was chief executive of the company.{{r|telegraph1|guard4}} He was succeeded by Paul Allen, who served until August 2019, when Peter Simon and COO Nick Stowe jointly assumed the CEO role.{{r|guard4}}{{Cite web|url=https://www.retailgazette.co.uk/blog/2019/08/monsoon-accessorize-ceo-paul-allen-quits/|title=Monsoon Accessorize CEO Paul Allen quits|last=Nazir|first=Sahar|date=2019-08-20|website=Retail Gazette|language=en-GB|access-date=2019-08-20}}

In the 12 months to August 2018, the company operated 181 stores in the UK. Filed accounts showed turnover of £296m, of which £62m came from overseas stores. The firm recorded a post-tax loss of £22.5m for the year.

In July 2019, a majority of Monsoon's landlords agreed to cut rents at 135 stores, following the retailer's proposed company voluntary arrangement.{{Cite news|url=https://www.thetimes.com/life-style/property-home/article/monsoon-landlords-agree-to-cut-rents-9q2l8dkfb|title=Monsoon landlords agree to cut rents|last=Burden|first=Elizabeth|date=2019-07-04|work=The Times|access-date=2019-07-08|language=en|issn=0140-0460}}

On 10 June 2020, during the COVID-19 pandemic in the United Kingdom, Monsoon Accessorize went into administration and was then bought by its founder, who planned 35 UK store closures with the loss of 545 jobs.{{cite news |last1=Partridge |first1=Joanna |title=Monsoon Accessorize, Restaurant Group and Quiz to shut sites |url=https://www.theguardian.com/business/2020/jun/10/restaurant-group-monsoon-accessorize-and-quiz-to-shut-sites-frankie-and-bennys-coronavirus |accessdate=11 June 2020 |work=Guardian |date=10 June 2020}} The company also confirmed the closure of Monsoon Accessorize stores in the Republic of Ireland affecting stores in Dublin, Cork City and Kilkenny.{{Cite journal|url=https://www.rte.ie/news/business/2020/0610/1146519-monsoon-accessorize-enter-administration/|title=Monsoon and Accessorize to close some Irish shops|date=10 June 2020|via=www.rte.ie}} The company planned to retain stores in Drogheda, Limerick, Galway, Sligo and Athlone for the time being.{{Citation needed|date=September 2022}}

Peter Simon bought it out of bankruptcy in late 2022{{Cite web|url=https://www.retailgazette.co.uk/blog/2020/06/545-job-cuts-as-peter-simon-buys-monsoon-accessorize-out-of-administration/shutterstock_553722949-3/|title=Peter Simon buys Monsoon Accessorize out of administration - Retail Gazette|website=www.retailgazette.co.uk|date=10 June 2020 |accessdate=20 November 2022}}

In February 2013, the Forum of Private Business criticised Monsoon for requiring all new suppliers to give a blanket rebate of up to 4% on all invoices, as well as a further charge of up to 10% for early payment.{{cite web|url=http://www.printweek.com/print-week/news/1136081/monsoon-accessorize-criticised-mandatory-supplier-rebate|title=Monsoon Accessorize criticised for mandatory supplier rebate|publisher=PrintWeek|accessdate=3 May 2014}}{{cite web|url=http://www.just-style.com/news/monsoon-faces-criticism-over-supplier-terms_id117073.aspx|title=Monsoon faces criticism over supplier terms|date=25 February 2013|publisher=Just-style.com|accessdate=3 May 2014|archive-date=31 August 2018|archive-url=https://web.archive.org/web/20180831071935/https://www.just-style.com/news/monsoon-faces-criticism-over-supplier-terms_id117073.aspx|url-status=dead}}

In October 2015, Monsoon was at the head of a list published by HM Revenue and Customs of companies that had failed to pay the national minimum wage. Because of a policy requiring employees to wear Monsoon clothes at work, the cost of which was deducted from wages, the company had effectively underpaid 1438 of its workers in the United Kingdom by over £104,000. The company was fined more than £28,000, and began paying a clothing allowance and raised wages.{{r|bbc|guard}}

File:MONSOON MHS -77-LO-RES.jpg

{{Commons category|Monsoon Accessorize}}

{{Reflist|45em|refs=

Mike Stiff (5 February 2009). [http://www.architecturetoday.co.uk/?p=1043 Allford Hall Monaghan Morris: Yellow, White and Studio Buildings, Notting Dale Village, London] {{Webarchive|url=https://web.archive.org/web/20160306193125/http://www.architecturetoday.co.uk/?p=1043 |date=6 March 2016}}.Architecture Today 198: 54. Accessed March 2016.

[s.n.] ([s.d.]) [http://www.artnews.com/top200/peter-simon/ Top 200 Collectors: Peter Simon]. artnews.com. Accessed March 2016.

[https://www.bbc.co.uk/news/business-34608028 Monsoon Accessorize tops minimum wage list of shame]. BBC. Accessed October 2015.

[s.n.] (29 January 2013). [http://www.christiantoday.com/article/christian.aid.monsoon.partnership.to.boost.afghanistans.silk.industry/31544.htm Christian Aid, Monsoon partnership to boost Afghanistan's silk industry]. Christian Today. Accessed March 2016.

Howard Lake (5 January 2010). [http://fundraising.co.uk/2010/01/05/money-raining-monsoon-charitable-trust/ Money raining in for Monsoon Charitable Trust]. UKfundraising. Accessed March 2016.

Sarah Butler (23 October 2015). [https://www.theguardian.com/business/2015/oct/23/monsoon-named-and-shamed-for-not-paying-staff-minimum-wage Monsoon named and shamed for not paying staff minimum wage]. The Guardian. Accessed October 2015.

Julia Kollewe (29 September 2007). [https://www.theguardian.com/business/2007/sep/29/retail Monsoon founder wins fight to go private]. The Guardian. Accessed March 2016.

Sarah Butler (18 February 2015). [https://www.theguardian.com/business/2015/feb/18/monsoon-chief-executive-john-browett-to-step-down Monsoon chief executive John Browett to step down]. The Guardian. Accessed March 2016.

[s.n.] (26 October 2008). [https://www.nytimes.com/2008/11/26/style/26iht-Simon.18178184.html?_r=3 Peter Simon, founder and director, Monsoon and Accessorize]. The New York Times. Accessed March 2016.

Graham Ruddick (7 February 2014). [https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/10623856/Monsoon-back-in-the-black-as-former-Apple-boss-boosts-sales.html Monsoon back in the black as former Apple boss boosts sales]. The Daily Telegraph. Accessed January 2015.}}

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Category:Clothing retailers of the United Kingdom

Category:Clothing companies established in 1973

Category:Retail companies established in 1973

Category:Companies that have entered administration in the United Kingdom

Category:Companies based in London

Category:1973 establishments in the United Kingdom