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…
Activist investor Gatemore has urged Watches of Switzerland Group to swap its main stock market listing from London to the US. The call comes after a tough two years for the London Stock Exchange, with a number of firms dropping their listings in the city for international counterparts. Gatemore Capital Management said the company should…
Luxury British streetwear brand Represent is opening its first UK flagship store at 21 New Cathedral Street in Manchester this Saturday, 26 October. 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. The New Cathedral Street location will position…
British women’s shirt brand With Nothing Underneath (WNU) has secured £2.5 million in its first funding round – led by Bella Freud, Ro&Zo, Me+Em, and Tala investor Pembroke VCT, along with JamJar Investments. The capital raised will fuel the expansion of its UK retail presence, grow its team, and support the company’s international growth in…
Chanel has become the first title sponsor and official timekeeping partner of historic British sporting event, The Boat Race. The new partnership is an expression of a shared philosophy, with The Boat Race developing and showcasing exceptional talent, in the same way Chanel supports outstanding creative expertise. Described as a “treasured highlight” in London’s sporting…
Shoe Zone has warned it expects annual profits to fall by more than 40% after the weather over the summer had an impact on sales. The chain said pre-tax profits are expected to be “not less than” £9.6 million in the year to 28 September, which would be 41% lower than the £16.2 million reported…
The former boss of fashion giant Abercrombie & Fitch and his British partner have been charged with running a “prostitution and international sex trafficking business”. Ex-chief executive Mike Jeffries, 80, his partner Matthew Smith, 61, and a third man, James Jacobson, 71, were arrested in the US on Tuesday morning after being charged with one…
For fashion to achieve its goal of full circularity, the industry needs to go back to basics and rethink everything from sourcing and supply chain, company culture, delivery and distribution, to retail and e-commerce practices, business and financial models, and re-commerce channels. During TheIndustry.fashion LIVE: Remodelling Fashion for a Circular Future, brands and retailers such…
Womenswear brand Sosandar has reported a £0.7 million pre-tax loss in the six months to 30 September 2024, compared to a loss of £1.3 million in the first half of FY24. The company said this is as a result of margin enhancement and continued cost management, with a focus on sustained profitability and “transitioning to…
Mulberry has rejected Frasers Group’s increased takeover bid of £111 million as it positions itself for future growth. The luxury brand said it has considered the position of majority shareholder Challice, which previously confirmed it had “no interest in either selling its Mulberry shares to Frasers or providing the group with any irrevocable or other…
