Matalan has announced a £35 million investment to lower the price of more than 700 of its products.

Matalan said the price cuts have been made possible through a more collaborative buying and sourcing strategy introduced by the company’s new senior leadership team and by passing on reduced input costs as inflation falls.

The clothing retailer said the investment has funded price reductions from January across all core categories. Prices have been cut by an average of 15 per cent on its core and new lines of everyday family essentials, with some product prices decreasing by up to 25 per cent.

Price cuts include women’s hoodies falling from £15 to £12.50 and boy’s hoodies from £13.00 to £10.00, while a pair of men's straight cut jeans are now £10.00 down from £11.00. Popular bedding sets have also been reduced by £3 across single, double and king sizes.

Jo Whitfield, Matalan chief executive, said in light of how difficult 2023 was for many families due to the cost-of-living crisis, it wanted to start 2024 off differently.

She said: “We’ve unlocked efficiencies at a time when inflation and input costs are starting to fall, enabling us to pass these savings on directly to our customers – bringing down the prices of new and existing lines of everyday essentials and favourites across all our key categories.”

Matalan’s investment follows results in the 13 weeks to 27 May 2023 in which it saw revenues decrease by eight per cent to £263.6 million – a result it attributed to changing customer habits largely driven by the cost-of-living crisis.

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