MJ was very happy to hear from us and share some updates on Me&B. As he puts it, “We’re doing pretty well! We have lined up four new stores to open within the next two to three months, with discussions underway for a potential fifth location before year-end”, he tells us.

Contact with Imperial College has been maintained, not least through ongoing discussions with Sven. Together, they’re preparing to implement pricing experiments, particularly testing price elasticity on accessories. “We haven't quite got that right yet”, MJ explains, “but that's something we’re looking to do in the next couple of months”. The Imperial team’s work had identified significant elasticity potential, especially in bags and other accessories, providing a foundation for continued research.

Summer season preparations are already underway, with MJ taking a bold approach to pricing strategy. “We've pushed the prices up a fair amount to try and get the margins up but also to try and test those upper price barriers”, he explains. While it’s too early to conclude much as hard data still needs to be analysed, MJ is keen to continue testing the assertion that Me&B may have been underpricing its products. Various price points are being tested across various locations to determine optimal pricing strategies.

The loyalty programme launch represents another strategic initiative, though MJ acknowledges it’s still early days. “It's been live for probably 2 weeks now, so it’s probably a bit soon to make any conclusions”, he notes. While an app was tested, technical issues forced them to roll it back, relegating it to the to-do list rather than an immediate priority.

Store optimisation remains a work in progress. “We’re still at the stage where we take what we can get”, MJ explains, describing how they provide optimal size recommendations to stores while adapting to available space. They’re also beginning to leverage ChatGPT, he says, for allocation decisions. This has also led to the observation that online sales show different size distribution patterns compared to physical stores.

MJ concludes with heartfelt appreciation for the Imperial College team. “First of all I’d like to say massive congrats to you all on graduating. Also, thank you once again for the input and the work that you did when you guys were down here in Cape Town”, he says warmly. “It really has benefited us and got us thinking a lot in terms of how we can use data for outcomes”.