John Lewis has launched major store makeovers as part of an £800 million investment plan. The company has committed to inject more than £250 million into its stores over the next two years as part of the plan, which will pump a total of £800 million into the John Lewis brand over the next four years….
Digital department store Freemans has today launched a Christmas TV ad starring singer and brand ambassador, Sophie Ellis-Bextor. In the 30-second commercial, Ellis-Bextor delivers gifts on a snow-dusted ‘Sleigh Street’, along with four members of the Freemans ‘Style Squad’ – all dressed head to toe in the latest seasonal fashion from the online retailer. Arriving…
Sports Direct owner Frasers Group has demanded the appointment of its founder Mike Ashley as chief executive of Boohoo as it warns over a mounting “crisis” at the struggling online fashion firm. Frasers – which is Boohoo’s largest shareholder with a 27% stake – is calling for a meeting of Boohoo investors to back its…
The Very Group, which operates digital retailers Very and Littlewoods, has today announced its full-year results for the 52 weeks ending 29 June 2024. It said that a “resilient top line and careful management” saw pre-exceptional operating profit grow 17.1% to £218.3 million, versus £186.5 million for the previous year, its highest level since FY19. Meanwhile, EBITDA…
Kering, the owner of YSL, Bottega Veneta, Gucci and more, has revealed it has been hit by the luxury slowdown. The group’s revenue for the third quarter of 2024 totalled £3.17 billion (€3.8 billion), down by 15% on a reported basis. The group revealed its sales from the directly operated retail network were down 17% on…
Gen Z’s UK fashion spend is projected to total £1.2 billion over the next six months, with 99% set to spend an average of £150 on clothing, footwear and accessories. That’s according to the latest ‘Fashion Report’ from UNiDAYS, the Student Affinity Network that enables students and graduates to discover savings, in conjunction with QuMind,…
By Rotation is marking its fifth anniversary by opening the “world’s largest” fashion rental pop-up, called ‘The House of ByRo’, in London’s Mayfair this Friday, 25 October. The five-story space at 31 Brook Street will showcase the brand’s most popular garments and accessories, “creating an immersive and interactive retail experience”. Visitors will be able to rent…
In the latest of his interviews with progressive CEOs, Eric Musgrave hears from Paul Platt why he has not sold out to Frasers Group, why he’s adding womenswear to Pockets and why he’s actively looking to open more shops to add to the current four. Anyone needing a powerful reminder of what an excellent premium…
The H&M Foundation has launched its Global Change Award (GCA) 2025, with a mission to accelerate innovation for a net-zero textile industry by 2050. Marking a “significant shift” in strategic direction, the H&M Foundation’s focus is firmly on supporting the textile industry in halving its greenhouse gas emissions every decade by 2050, “while promoting a…
Frasers Group has abandoned its takeover plans for Mulberry, citing governance concerns after the brand rejected its increased bid of £111 million earlier this week. It comes 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…
