French fashion retailer Maison 123, formerly known as 1.2.3, has undergone a remarkable financial turnaround under the leadership of CEO Axelle Mathery. Despite a difficult economic climate, Maison 123 achieved €140 million in revenue in 2021, representing a 7.5% increase from the previous year. Furthermore, the company tripled its EBITDA and recorded its first profit in several years.

To revive the brand, Mathery implemented a comprehensive transformation strategy. This included refreshing the product range and shifting the brand’s image to focus on everyday wear with a more casual style. Maison 123 also reduced purchasing volumes and worked to reduce residual inventory, minimizing the reliance on discounts. Additionally, the brand refined its collection strategy, increasing the number of product launches per season while streamlining the collections to highlight their looks effectively. To capture consumer attention, Maison 123 conducted ad campaigns in appealing locations such as Montana and Brazil.

Targeting the mid- to high-end market segment, Maison 123 considers Caroll as one of its competitors. The brand successfully attracted a younger consumer base while still maintaining its appeal to its loyal customers – active 45-year-old women who prioritize fabric quality and well-fitting garments.

With a team of 650 employees and 227 stores, Maison 123 has ambitious plans for expansion. This year, the brand intends to open 11 new stores in cities like Lille, Aix-en-Provence, Bordeaux, Nice, and Paris. With a budget of €6.7 million allocated for retail expansion and renovations, Maison 123 is committed to growing its presence. Additionally, the brand is looking to enter the Spanish market and explore opportunities in Northern Europe, the Middle East, and South America.

To increase brand awareness, Maison 123 will launch a major advertising campaign in 2023. Despite recent price increases due to inflation, the brand plans to invest in new brand ambassadors, press and social media advertising, and posters to reach a broader audience.

Mathery is optimistic about Maison 123’s future and aims to achieve a revenue target of €160 million in 2023 while continuously improving profitability. While there are currently no plans for runway shows, Mathery suggests that an event showcasing Maison 123’s evolution could be considered in the future.

Overall, Maison 123’s successful turnaround story showcases its adaptability to changing market conditions and ability to meet consumer demands. This positions the brand for continued growth and success in the fashion industry.

Useful links:
1. Maison 123 Official Website
2. Caroll Official Website