In Review, October 2024: Frasers, Gucci and Celine topped this month’s news agenda

As the month of October ushered in the Autumn season, it also ushered in a slew of retail news. The luxury slump finally caught up with Kering and LVMH, meanwhile, ASOS completed the sale of Topshop and Topman and Mytheresa acquired Yoox Net-A-Porter.

From new store openings and senior leadership appointments to acquisitions and more, here are some of the news highlights from an action-packed four weeks.

New Openings

Uniqlo reopened bigger and better Westfield White City store

Uniqlo reopened the doors to the newly renovated and expanded store at Westfield White City, offering customers an “enriched” shopping experience.

After 10 months of renovation, the Uniqlo White City store reopened to reveal two extensive floors of LifeWear including womenswear, menswear and an expansive Kids & Baby area plus a dedicated play area for kids.

Vuori opened a new flagship store on London’s Regent Street

Californian performance apparel brand Vuori, which counts celebrities including Tom Holland, Harry Styles and Gwyneth Paltrow among its fans, has opened a new 4,000 sq ft flagship store set over two floors at 83-85 Regent Street in London.

Flannels unveiled a ‘league of its own’ new Leeds flagship

Frasers Group-owned Flannels has opened a 70,000 sq ft flagship store at 115-126 Briggate in Leeds, in what is the former Debenhams site. Set over six floors, it is the sixth Flannels flagship to open, joining London, Liverpool, Leicester, Sheffield and Newcastle, as the retailer “redefines the next generation of luxury retail”.

By Rotation opened its biggest-ever fashion rental pop-up in London’s Mayfair

By Rotation marked its fifth anniversary by opening the “world’s largest” fashion rental pop-up, called ‘The House of ByRo’, in London’s Mayfair. The five-story space at 31 Brook Street showcases the brand’s most popular garments and accessories, “creating an immersive and interactive retail experience”.

Phase Eight, Whistles and Hobbs owner to create a multi-brand flagship

Fashion retail group, TFG London, announced it is opening its largest store to date. The 12,000 sq ft space will combine its brand portfolio – including Hobbs, Phase Eight, Whistles and Inside Story – to create a multi-brand flagship store at Liverpool One next spring.

The new Liverpool One store, located on South John Street, marks the return of all four brands to the city and will be home to the quartet of TFG brands’ complete collections.

Represent opened its first UK flagship store in Manchester

Luxury British streetwear brand Represent opened its first UK flagship store at 21 New Cathedral Street in Manchester. The 5,419 sq ft store, which also has a whole floor dedicated to its 247 by Represent performance wear division, is opposite the Manchester Arndale.

Multi-dealer designer vintage fashion store opened at Westfield Stratford

Known Source, the home to a curated selection of archival fashion dealers, opened its first permanent store at Westfield Stratford City.

The concept store offers a curated array of sought-after archival designer pieces and features a returns policy that allows shoppers to return items anytime to ensure there is no textile waste.

A new combined Frasers and Sports Direct store opened at Maidstone’s Fremlin Walk

A new combined 70,000 sq ft Frasers and Sports Direct store opened at the Fremlin Walk Shopping Centre in Maidstone, Kent.

It comes after Frasers Group recently acquired the 350,000 sq ft centre, and has also opened a 5,000 sq ft Flannels store – bringing a new luxury retail offering to Maidstone, with brands including Represent, Palm Angels and Vivienne Westwood.

White Stuff to open first airport store at London Gatwick

British fashion and lifestyle retailer White Stuff announced it is opening a 1,044 sq ft store in the newly developed North Terminal departure lounge at London Gatwick in late November 2024, marking the brand’s first-ever airport store.

The store will now see White Stuff hone in on travellers’ shopping before flying off to their holiday destinations. It will also feature White Stuff’s new mobile payment system. Instead of a standard till, customers will be able to pay from anywhere in the shop.

New Balance opened a new premium concept store in Dublin

New Balance opened a new premium concept store at 104 Grafton Street in Dublin, showcasing its top-end ‘Made in UK’ and ‘Made in USA’ trainers.

It also offers the brand’s core lifestyle and performance ranges for both style-conscious shoppers and performance-driven athletes, as well as popular models such as the 9060 and 530.

Big Name Moves

Frasers Group Sport MD Ger Wright stepped down

Ger Wright, Managing Director of Sport at Frasers Group, announced she is stepping down from her role but will remain on the board as a Non-Executive Director.

Frasers Group’s Sports Direct retail proposition has particularly evolved during Wright’s tenure in charge, particularly with the introduction of its ‘Running’ and ‘Outdoor’ concepts – most recently in evidence at the flagship Frasers store opening at Meadowhall Shopping Centre in Sheffield last month, where Sports Direct has taken a majority 55,000 sq ft of the overall 100,000 sq ft.

Gucci appointed former Louis Vuitton exec as new CEO

Luxury group Kering named Stefano Cantino as CEO of Gucci, replacing Jean-François Palus as of 1 January 2025.

Cantino joined Gucci in May as Deputy CEO following five years at Louis Vuitton, where he oversaw Communications and Image.

Victoria Beckham CEO Marie Leblanc stepped down

One week after its Paris Fashion Week show, Victoria Beckham announced the departure of its CEO Marie Leblanc, who will return to France to be with her family.

Leblanc has served as CEO since September 2019, having first joined the company as Product Director in May 2018.

Future Stores named ‘marketing guru’ EMEA MD to ‘usher in a new era of retail’

Engin Celikbas, otherwise known as a ‘retail marketing guru’, was named as Managing Director EMEA of Future Stores – a new retail concept that blends the worlds of media, retail and digital performance marketing.

Celikbas is an expert in retail data, AI and innovative marketing, bringing a wealth of experience in innovative consumer concepts to his new role.

Hedi Slimane exited Celine

Artistic Director Hedi Slimane announced he is leaving Celine after seven years at the helm, its owner LVMH has announced. This comes after months of swirling rumours that Slimane was next in line to take over the reins at rival Parisian house Chanel.

Celine named Michael Rider as new Creative Director

Celine has named Michael Rider as its new Creative Director, replacing Hedi Slimane, who will depart the luxury brand after seven years at the helm.

Effective from early 2025, Rider will have the entire creative responsibility for all Celine collections, including womenswear, menswear, leather goods, accessories and couture.

Missoni names new Creative Director as Filippo Grazioli stepped down

Filippo Grazioli stepped down as Creative Director of Missoni after just over two years to pursue “new creative and artistic challenges”. He was replaced by Missoni veteran Alberto Caliri, who joined the company in 1998.

This isn’t Caliri’s first rodeo as Creative Director of Missoni. He previously held the role on an interim basis after Angela Missoni, the Founder’s daughter, stepped down in 2021.

John Lewis CEO to step back to non-exec role next year

John Lewis Partnership boss Nish Kankiwala is to step back from the role of CEO following the appointment of new chairman Jason Tarry at the helm.

The employee-owned retailer, which runs the department store chain and Waitrose supermarket arm, said Kankiwala will revert to the role of non-executive director in March next year and the CEO post will be scrapped.

Boohoo boss to step down as it launches strategic review

The Boss of Boohoo Group announced he is stepping down as the company launched a strategic review to try to drive an improvement in trading.

John Lyttle said he has informed the company’s board that he will step down from his role after five years. The retail business said he will continue to work with the firm’s leadership team over the coming months to ensure a smooth transition.

Matalan CEO Jo Whitfield exited

Matalan Chief Executive Jo Whitfield stepped down after just over 18 months in the role. After taking on the position in March 2023, Whitfield is said to be leaving the business to “pursue a portfolio career”.

Quiz CFO stepped down after eight years

Omni-channel fashion retailer Quiz’s Gerard Sweeney stepped down from his role as Chief Financial Officer (CFO) and Company Secretary after eight years.

Quiz has commenced a recruitment process to find a new CFO, though Sweeney will remain with the group until 31 March 2025 “to enable a smooth transition of responsibilities to his successor”.

Frasers Continues Making Headlines

Frasers has earned its very own section as there is never a dull moment when it comes to the British retail supergroup and this month was no different. Frasers snapped up shopping centres, dropped its bid for Mulberry and demanded Boohoo appoint its Founder Mike Ashley as CEO.

Frasers Group snapped up three more shopping centres

Frasers Group acquired three more shopping centres as it continues to grow its UK property portfolio.

The Frasers, Sports Direct and Flannels owner confirmed the acquisition of the 600,000 sq ft Princesshay Shopping Centre in Exeter, which is home to over 60 retailers.

It also acquired the 350,000 sq ft Fremlin Shopping Centre in Maidstone, Kent, and the 65,000 sq ft Olympus Centre retail park in the Quedgeley area of Gloucester.

Frasers Group acquired a stake in Hudson Malta as it eyes expansion into EMEA

Frasers Group announced it has acquired “a significant non-controlling shareholding” in Hudson Malta, a sport and fashion retail and distribution business based in Malta with operations across 36 African countries.

This acquisition reflects Frasers’ continued commitment to expanding its international footprint and marks the beginning of a long-term strategic partnership that will drive expansion opportunities for both businesses across Malta and North Africa, where both retailers have “ambitious plans for expansion”.

Frasers Group sold its N Brown stake

Frasers Group supported the acquisition of N Brown Group by Joshua Alliance. The owner of Sports Direct and Flannels will sell its 20.3% stake in N Brown but said it “looks forward to a strategic relationship” with Joshua Alliance and N Brown post-acquisition.

During the month, Joshua Alliance, whose family built up the shopping group in the 1960s, agreed to a £191 million takeover.

Frasers Group abandoned Mulberry takeover bid

Towards the end of the month, the group abandoned its takeover plans for Mulberry, citing governance concerns after the brand rejected its increased bid of £111 million.

It came after Frasers, which owns a 37% stake in the luxury brand, submitted a revised cash offer earlier this month of 150p per share for the remaining shares it does not already own.

However, Mulberry considered the offer “untenable”, sharing that it would instead focus on the company’s growth strategy, including a new CEO, debt facility and capital raising.

Mike Ashley

Frasers demanded the appointment of founder Mike Ashley as boss of Boohoo

This month, Frasers demanded the appointment of its founder Mike Ashley as Chief Executive of Boohoo as it warned over a mounting “crisis” at the struggling online fashion firm.

Frasers – which is Boohoo’s largest shareholder with a 27% stake – called for a meeting of Boohoo investors to back its plans to appoint Ashley, claiming it is “in the best interests of Boohoo, its shareholders and its stakeholders”.

The group said it will “take into account” the entraupaneurs’ stake in the company, but that the appointment “requires careful consideration and proper governance”.