After 18 years in business, Kevco has ceased trading and entered liquidation. Founded in 2008, “Kevco started wholesaling shoes only,” says Kevin Wooldridge, Co-founder and CEO. “When Got Lingerie closed down, there was a gap in the market, so we began introducing lingerie brands into our wholesale offering.”
After finding, and maintaining, their place for so long, this was an incredibly hard decision to make, especially with “the friendships built over 18 years – from suppliers to customers, large and small. That’s what really stands out,” he continues. “But as the saying goes, when you’re in a hole, stop digging. With events outside our control, we faced rising costs and reduced sales without any clear path forward.”
Wooldridge explains that a lot has changed since they started, which has all contributed to the move. For example, “younger consumers are now increasingly happy to buy directly from China, through platforms like Temu and Shein, often without considering the impact on traditional businesses.”
Kevco’s stock has been purchased by a new company, Shoes and Lingerie Wholesale, with plans to sell down the stock and remodel to adjust to the industry’s future needs. With the industry’s support, Wooldridge is optimistic that the emerging wholesaler will grow and prosper.
For trade buyers, this presents a significant purchasing opportunity with thousands of bargains. All lingerie stock is discounted by a minimum of 50% and up to 80%. In addition, stock is currently VAT-free until the threshold is met, creating added margin potential for non-VAT-registered businesses.
But this isn’t without celebrating its success. Over almost two decades, Kevco has built a strong industry reputation, recognised through multiple awards. “Winning our first ETO Award for Best Lingerie Distributor in 2012 was a huge moment,” says Wooldridge. “It confirmed we were delivering one of the best services in the UK. To go on and win it five years in a row made it even more special.” In total, the company has secured nine ETO awards – a standout legacy.
He hopes this isn’t the end of his involvement in the industry, but for now, Wooldridge plans to play a lot more golf.
For more information, visit shoesandlingeriewholesale.co.uk.
