It's a tough time for department stores. Yet Debenhams Chairman Sir Ian Cheshire sees potential for this format, namely as a curator who brings “newness” to customers via fresh products and brands.
Retail companies today have to be “real”. “If you got caught in the age of social media doing greenwashing, you’ll be murdered”, says Sir Ian Cheshire, Chairman of Debenhams, who was knighted in 2014 for retail sustainability and outstanding contribution to the environment. Authenticity should be ingrained in the business – not something customers have to pay for, says Cheshire.
In the video, he explains how embracing these ideals will help department stores thrive in the 21st century.