Almost a year of lost trading, except for the lifeline of mail-order, will have a long-term effect on the viability of most retailers. In the photographic sector, where the traditional family camera store is being increasingly squeezed out, future is by no means certain.
In the UK, the bigger photographic chains have kept going on mail-order business, but some, such as Jessops have not fared well. This well-known brand is in trouble for the third time, putting at risk the future of 17 stores and 120 employees.
The future is brighter, however, for another well-known UK chain, LCE or London Camera Exchange. I have always thought that its branches around the country combine a friendly, specialist camera store atmosphere with the backing of a national organisation. On April 12, along with other non-essential shops, they will reopen but under a new and unusual ownership structure.
After 65 years as a family owned business, LCE is now owned by its 140-strong workforce. Steve Hall, son of the company’s founder, is convinced that this move would have won the approval of his father who was a great believer in people.
Current managing director Nich Richens said, “London Camera Exchange has gone about its business in a modest and carefully-managed style over the years. This has allowed it to grow and prosper—most recently in a harsh business environment. It is testament to the people working within the group that it has stood the test of time and has established the strong foundations that will enable this new ownership model.”
Nick will become the chief executive of the newly structured company, with current director Lee Harasyn stepping into his shoes as managing director.
While London Camera Exchange is proud of its history, it is very much focused on the future. As a predominately high street bricks-and-mortar business, the company’s revenue took a major hit during the initial lockdown period. However, by quickly adapting to online operations, and innovations such as virtual demonstrations and events, the company was able to maintain a healthy level of business throughout 2020. Over 10 years, the company has grown 32% in an industry that has seen a consumer market decline of over 70% in the same period.
Once the transition has taken place, shop managers and staff will all continue in their existing roles, but with the greater engagement and commitment that employee ownership brings.
Nick Richens said, “Everyone across the organisation is very fired up and excited by the opportunity of working together to strengthen the London Camera Exchange brand and continuing to provide customers access to the latest equipment, trade-ins and the premium level of service they expect from our teams.”
Once non-essential shops are permitted to begin trading again, London Camera Exchange plans to expand its high street portfolio with the opening of a new store. The shop is currently being fitted out and full details will be announced next month, but the new premises will be located in Park Street, Bristol.
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I have dealt very happily with LCE for a great many years, wish them well, and long may I be able to continue actually going into a shop where the staff are knowledgeable and helpful as in my experience LCE staff always have been, and most importantly where I can actually handle the goods before buying.
I live in Bristol and was delighted to hear the news about the new store. As have been mentioned, they will be moving premises. The Horsehair branch wasn’t a bad size and there was space upstairs for workshops (which a lot of LCE don’t, I believe), but the Park Street premises should have considerably more room.
Also, for the immediate vicinity of the new store is a lot more better for outdoor workshop shooting that of the Horsefair store.
I’d do feel rather fortunate to have options to go to different physical stores, all of which have great staff – however, I can’t praise the LCE Bristol team enough. When the Lumix S5 launched, I wasn’t sure whether I would be able to get the bundle I wanted in time to be eligible for the free lens promo (due to demand and the time stock was taking to reach stores) but the effort that the manager went to to ensure I did was incredible.
This is welcome news, and one that bodes well for having some physical camera establishments in the coming years. I must confess though that I bought my X at risk, as I was not able to visit Red Dot in London, so bought at risk. But with the Df, I visited Greys of Westminster, even though they have a similar reputation to RD.
I personally believe that any company on the high street now has to genuinely be competent with their online business too. In fact, I suspect having both will enhance survivability in the future.
Having not previously used the company before, I have bought a few items from LCE in recent months. The staff have all been unfailingly helpful and answered e-mails promptly.
Good news about the opening of a new shop in Bristil. Wex has already opened new stores in Birmingham and Milton Keynes which will soon be joined by another in Leeds. Jessops’ ongoing financial woes notwithstanding, it is an encouraging outlook for the retail photography trade. If I were Peter Jones, I would be taking a long hard look at how his shops are being run.
Doh! Bristol! I even saw the typo before I posted and then deleted the wrong character.
Don’t worry. I read Brazil and then did a double take! Funny thing is, I could have sworn I’d visited LCE in Bristol before but could be wrong…
I visited LCE in Bristol – and bought a Canon 16-20mm(?) lens – many years ago; in a main road which leads into the large square with the fountain ..then turn left for the Waterfront ..let’s have a look at Google Maps ..here we are: Baldwin Street, I believe.
Nice people – like the staff at LCE in London – and good prices!
I think I’d better take another look at the press release. Maybe the new store is in Plymouth… And the press release definitely refers to Park Street, Bristol. I’m with you on your recollection. There is/was a branch of LCE in the location you describe. So this must be a refurbishment or, perhaps, a move to another location.
According to the LCE website, there is currently a store at 53 The Horsefair in Bristol. The e-mail I received states that the new shop will be at 42 Park Street, Bristol. Given that the e-mail refers to 26 stores, the same number as listed on the website, it looks like a move to new premises. Whatever the reason, the company is making an investment in retail which has to be encouraging. Especially at a time when the prognosis for the high street is generally one of doom and gloom. Maybe that has been overstated by “experts” who want us to have something else to worry about?
BTW, I would have replied to Mike’s comment but that option does not seem to be available.
And then the reply appears under Mike’s anyway!
I think I shall stop commenting here. It’s too tricky!
It can be a bit tricky but there’s nothing we can do about it. WordPress seems to have a mind if it’s own, sometimes. I think clicking the reply button attached to the relevant comment should work. But I hope you are not out off because everyone here is well meaning and constructive.
I wish them luck. Some bricks and mortar camera shops will survive, I believe, but most people are now buying the cameras that they use from their mobile phone dealers and that is also largely online. When and how this will end up I am not sure. Covid has really accelerated the move to online shopping. I understand the fondling aspect, but a lot of commerce these days is ‘sans fondling’. E-Commerce has little room for the sentimental or social sides of life.
William
Nice to hear good photography store news. I miss being able to go into a store to fondle cameras and lenses. Nothing helps GAS more than handling a camera and playing with a lens.
Photography stores should be essential service for mental health.
Thanks for sharing the good news.
Fingers, toes, legs, arms eyes crossed hope you survive and thrive.