Laura Turner speaks to Glenn Leech to discuss everything from Banner’s recent acquisition of William Turner and the company’s advancements in sustainability through to new products and this year’s Back to School.

 

Laura Turner: How does the acquisition of William Turner support Banner’s strategy?

Glenn Leech: William Turner is a business we have long admired. It has a lot of talented people who provide outstanding service. In joining forces, we bring together two market-leading businesses with complementary product ranges. So commercially, we have a wider product range to sell into schoolwear retailers across the UK.

More broadly, the acquisition will give William Turner access to the investment and central support that Banner can provide. Importantly, we want to do this in a way that allows William Turner to thrive as a brand and business in its own right. We love the brand and heritage and really believe there is an opportunity to grow and prosper under Dan, John and Andy’s leadership.

LT: Are there plans to develop William Turner’s range?

GL: The change in ownership won’t immediately result in any changes in product range. What it will do is provide the financial backing and support to make any necessary investments that can improve either service or products.

LT: Are there any particular areas of William Turner’s business the acquisition will leverage?

GL: Having a UK manufacturing base for ties is a massive plus. It means shorter lead times for orders, better service, and a much-reduced carbon footprint. The importance of sustainability to both Banner and William Turner can’t be underestimated. This is definitely an area in which we will be working very closely together, sharing and implementing best practices.

I am a huge believer that you are only as good as your people. We now employ more colleagues in the North West than we do in our wholesale HQ in Trowbridge. This presents a great opportunity to develop talented colleagues across our businesses.

LT: Will there be any changes to trading arrangements for customers?

GL: No, we have no plans to change any trading arrangements and have communicated this clearly to all customers.

LT: What is Banner’s long-term strategy for its brand portfolio?

GL: First and foremost, Banner is a wholesaler, and we have no plans to trade directly with schools. This is a strategic decision that I made when I joined Banner and it remains 100% the right call. We believe in supporting our retail customers who know their schools and parents best. This is why we have made huge investments in our Media Hub to give our customers everything they need for pitches to win or retain their schools. It is also why we refer the growing number of schools that contact us directly to their local retailer – again, something that isn’t going to change.

As previously mentioned, William Turner sits nicely alongside the Banner brand, offering complementary products. It’s a wonderful business and our role in owning it is primarily to support Dan and his team to continue to deliver great products and industry-leading service.

Monkhouse will continue to operate standalone from the Banner business, run by Peter and his leadership team. Owning Monkhouse has been incredibly insightful. It has really helped us understand the challenges of managing a schoolwear retailer and we have learned so much in a short space of time. The team’s focus is to deliver brilliant service and it’s immensely satisfying to see how well they have done this Back to School.

LT: How was this Back to School compared to previous years?

GL: I am not sure there has been a typical Back to School since I joined Banner! Whilst the West has learned to cope with Covid, China’s zero Covid policy has impacted factory production and shipping across the Far East. Eye-watering freight costs have yet to return to more sensible levels and sterling has devalued by a hefty amount. The backdrop for suppliers is very challenging at a time when retailers rightly expect their suppliers to have put in plans to mitigate the continued supply chain disruption.

Certainly, at Banner, we have pulled out all the stops, including air freighting (at our cost) over 50,000 special blazers. This enabled us to deliver 98% of all our special blazers to customers by the end of July. I would add that we are offsetting the additional carbon emissions from the airfreight.

In our retail channel, we have seen parents choosing to shop later than last year and a slight reduction in demand for in-store appointments. This is probably driven by the changing nature of the pandemic and a return to a traditional timing of purchasing.

LT: Where is the company currently on its sustainability journey?

GL: We’re proud of the progress we’ve made and excited about what’s to come. But like every business that’s truly committed to a sustainable future, we also know there’s a long way to go. I’m delighted that we are carbon neutral for our UK operations, together with the wider progress across our six strategic sustainability pillars, and the way we’ve maintained our commitments in the midst of a global pandemic. But more than that, I’m humbled by the engagement of my colleagues and their enthusiasm for embracing sustainability as the only way forward. In working together we’ve all learned so much, irreversibly changing our outlook and workplace for the better. One of our biggest achievements is that more than 50% of our products are now manufactured from sustainable fabrics, a huge milestone toward our goal of only offering sustainable garments.

Looking forward, backed by our investors, we’ve put sustainability at the heart of our strategy. That’s why we’re working to further reduce carbon emissions and measuring our full scope 3 carbon footprint; why we’re committed to giving back to nature and communities and working closely with our supply chain to reduce the environmental impacts of their operations, and openly and transparently reporting on our progress annually. Sustainability is not just about “doing the right thing.” For us it’s about responsibly serving the needs of all stakeholders and the children who wear our garments, both now and in the future.

LT: What’s next for Banner?

GL: Banner will continue to champion sustainability and service. We want our customers to choose us because we have the best and most sustainable range, backed up by the biggest stock holding and strongest service in our market.